OPINION.
MURDOCK, Judge:
The Commissioner determined a deficiency of $10,549.28 in excess profits tax for 1943. The only issue for decision is whether a loss of $11,442.43 resulting from the sale of customers' notes was deductible as an ordinary loss or was a capital loss and of no tax benefit. The facts were stipulated.
The petitioner, an Illinois corporation, filed its return for 1943 with the collector of internal revenue for the first...
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