Memorandum Findings of Fact and Opinion
FORRESTER, Judge:
Respondent has determined a deficiency of $60,482.93 in petitioner's 1968 calendar year Federal income tax. The issue before us is whether respondent erred in disallowing the following items claimed as deductions on petitioner's 1968 return: travel expenses, subcontract and service fees, research expenses, and a net operating loss carryover from petitioner's 1967 taxable year.
Findings of...
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