Memorandum Opinion
TURNER, Judge:
The respondent determined a deficiency in income tax against the petitioner for the fiscal year ended July 31, 1945, of $13,449.34. The question is whether the petitioner is entitled to a loss deduction for the involuntary conversion in condemnation proceedings of its land and buildings and at the same time is entitled, under section 112 (f) of the Internal Revenue Code, to the non-recognition of gain computed separately...
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