Memorandum Findings of Fact and Opinion
DISNEY, J.:
This proceeding involves the redetermination of a deficiency in income tax for 1938 in the amount of $805.90. The issue is whether the respondent erred in disallowing as a deduction a loss of $4,884.25 alleged to have been sustained upon the sale of bonds of the American Commonwealth Power Corporation. The facts set forth in a stipulation of facts are found as stipulated. Material portions thereof will...
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