Memorandum Findings of Fact and Opinion
DRENNEN, Judge:
Respondent determined deficiencies in petitioner's income tax for the years 1961 and 1962 in the respective amounts of $12,516.51 and $26,113.09.
The only issue is whether the compensation paid by petitioner to its president and sole stockholder, Vincent W. Vandenbraak (hereafter referred to as Vincent), in the taxable years 1961 and 1962, in the respective amounts of $49,070.21 and $75,217...
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