Memorandum Findings of Fact and Opinion
FAY, Judge:
Respondent determined deficiencies in petitioners' Federal income tax liability for the taxable years 1966 and 1967 in the amounts of $10,290.03 and $8,636.59, respectively.
The questions presented for our consideration are as follows: (1) Whether purported travel, entertainment, and gift expenses claimed by petitioners for the taxable years 1966 and 1967 constituted ordinary and necessary business...
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