Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency of $1,594.44 in income tax for the fiscal year ended March 31, 1940, limiting to $2,000 a deduction for a loss of $13,152.15, which he determined to be a capital loss.
Findings of Fact
Petitioner, a New York corporation, filed its return for the fiscal year ending March 31, 1940, in the Second District of New York. It is an exporter of radio and electrical apparatus...
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