ARUNDELL, Judge:
The respondent determined a deficiency in income tax for the taxable year ended December 31, 1954, in the amount of $10,017.76.
The issue involved is whether the respondent erred in disallowing a loss of $19,200.44 on the sales of certain properties claimed by petitioner on its corporation income tax return for the calendar year 1954 on the ground that in accordance with section 337 (a) of the Internal Revenue Code of 1954, such sales...
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