The respondent determined a deficiency in income tax for the year 1940 in the sum of $3,848.76. The only issue is whether petitioner is entitled to a loss deduction for the taxable year by reason of the embezzlement of certain funds belonging to him.
Petitioner filed his return for the taxable year with the collector for the first district of Pennsylvania.
Most of the facts have been stipulated.
FINDINGS OF FACT.
The petitioner resides in...
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