This proceeding involves deficiencies in income tax for the years 1944, 1945, and 1946, in the amounts of $2,052.18, $2,538.89, and $75,848.74, respectively. The petitioner alleges as error disallowances each year of deductions for depletion; the disallowance in 1945 of a deduction taken for capital stock tax; the inclusion in income for 1946 of long term capital gain; and the failure to allow as a deduction in 1944 and 1945 a net operating loss for 1946, and it claims an...
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