Memorandum Opinion
VAN FOSSAN, Judge:
The respondent determined a deficiency in petitioner's income tax for the year ended May 31, 1947, in the amount of $3,964.02 consequent on his holding that gain was realized by petitioner on the involuntary conversion of a building destroyed by fire. The facts were all stipulated and are as follows:
Petitioner is a corporation organized and existing under the laws of the State of West Virginia.
Petitioner...
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