Memorandum Findings of Fact and Opinion
RAUM, Judge:
The Commissioner determined deficiencies of $125,689 and $18,611 in petitioner's income taxes for the taxable years ended April 30, 1973, and April 30, 1974, respectively. Petitioner is an accrual basis taxpayer. The only matter in issue is whether petitioner may deduct, as an accrued liability for its taxable year ended April 30, 1974, the cost of repairs to a building it had constructed, which was damaged...
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