Respondent determined a deficiency in corporate income tax in the amount of $39,452.72 for the taxable year 1947. The questions presented are:
(a) Whether anticipatory expenditures paid for replacement facilities out of petitioner's general funds, and prior to payment of the award, qualify for nonrecognition of gain under section 112 (f);
(b) Whether certain amounts paid out for replacement facilities were traced to funds borrowed for that purpose, and whether...
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