The Commissioner determined a deficiency of $9,344.38 in the income tax of the petitioners for 1944. The issue for decision is whether the Commissioner erred in disallowing a deduction of $20,000 claimed as depreciation on buildings in Shanghai, China, owned by the taxpayer. The explanation given by the Commissioner in disallowing the deduction is as follows:
Depreciation claimed on buildings in Shanghai disallowed. Basis of property for depreciation purposes, and...
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