This case arises from respondent's determination of a deficiency of $378.23 in petitioner's income tax for the calendar year 1941. The deficiency results from respondent's disallowance of a deduction in the amount of $2,200.50 for claimed long term capital loss sustained upon the sale in the taxable year of certain bonds and stocks acquired by petitioner in 1936 in the course of an insolvency reorganization under section 77B of the Bankruptcy Act, and his determination of...
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