Memorandum Findings of Fact and Opinion
NIMS, Judge:
Respondent determined deficiencies in petitioner's Federal income tax for the taxable years ended June 30, 1974, June 30, 1975, and June 30, 1976, in the amounts of $24,142.35, $24,330.12 and $37,355.19, respectively.
Due to concessions by the parties, the sole issue for decision is whether petitioner, for the taxable years in question, may deduct as rent amounts paid to its majority shareholders...
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