Respondent determined deficiencies for the calendar year 1943 in the amounts of $19,309.11 in declared value excess profits tax and $321,261.16 in excess profits tax. The principal issue is whether petitioner sustained a deductible loss of $381,710.97 upon the transfer in 1943 of certain real property consisting of a foundry building and land. Another issue, arising only in the event petitioner is held not to have sustained the claimed loss, is whether petitioner is entitled...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.