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ELKO REALTY COMPANY v. COMMISSIONER OF INTERNAL REV.

No. 12632.

260 F.2d 949 (1958)

ELKO REALTY COMPANY, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Third Circuit.

Decided November 17, 1958.

Attorney(s) appearing for the Case

Logan Morris, Philadelphia, Pa. (John C. Noonan, Nesbit, Morris, Pugh & Noonan, Philadelphia, Pa., on the brief), for petitioner.

Myron C. Baum, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson, Joseph F. Goetten, Thomas N. Chambers, Attys., Dept. of Justice, Washington, D. C., on the brief), for respondent.

Before MARIS, KALODNER and HASTIE, Circuit Judges.

PER CURIAM.

The taxpayer asks us to review the decision of the Tax Court that it owed deficiencies in income tax for the years 1951, 1952 and 1953. The deficiencies resulted from the disallowance by the Commissioner of losses sustained by two affiliated corporations, which losses had been set off by the taxpayer against its income in consolidated returns filed by it for the years in question. The Tax Court sustained the Commissioner's determination that the principal...

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