The respondent determined a deficiency in income tax against the petitioner for 1939 in the amount of $17,613. The only question presented is whether the respondent erred in determining that the petitioner realized income in the amount of $70,000 during the taxable year from the repossession of certain leased premises on which a tenant had constructed improvements.
FINDINGS OF FACT.
The proceeding was submitted upon a stipulation of facts and certain documentary...
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