This proceeding is brought to contest the respondent's determination of deficiencies in income and excess profits taxes for the taxable year ended June 30, 1951, in the amount of $10,167.65. Several adjustments to income were made by the respondent in determining the deficiencies. The only adjustment placed in issue is the disallowance of a deduction in the amount of $18,775.20 claimed as a loss resulting from the collapse of an oil storage tank in the preceding fiscal year...
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