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the time. They were oral agreements. [Emphasis
supplied.]
Furthermore, after petitioner completed his direct
testimony regarding returns and allowances, and before
discussing the records that he allegedly lost in ship-
ping, he stated: "As mentioned earlier, I shipped some
information–-I'm done with the returns and allowances at
this point." Thus, petitioner again made it clear that
the records allegedly lost in shipping did not involve
"returns and allowances." Finally, at trial, petitioner
stated: "As such, my business logs were in there detailing
in the instance of travel and entertainment, who I
entertained and what-–and all the other requirements of
Section 274(d)." Petitioner did not testify at trial that
any of the documents that were allegedly lost involved
amounts reported on his returns as "returns and
allowances".
Moreover, on the basis of the record of this case,
we would have difficulty finding that petitioner lost any
business records as a result of a shipment from California
to petitioner's home in Moorestown, New Jersey. None of
the documents introduced by petitioner substantiate a lost
shipment of records from California to Moorestown. The
documents on which petitioner relies, consisting of two
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