Respondent determined deficiencies for the taxable year ended December 31, 1939, in income tax and declared value excess profits tax in the following amounts: Income tax, $10,772.98; and declared value excess profits tax, $6,217.98.
Petitioner having abandoned an issue raised in its pleading, the sole remaining question is whether the amount due on a mortgage, including accrued interest and taxes due on realty, constitute "property (other than money)" received by...
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