BRENNAN, Chief Judge.
This litigation presents the question as to whether the plaintiff is entitled to deduct on its income tax return, an embezzlement loss in the year of its discovery or in the years in which the actual embezzlement occurred.
The action is brought to recover the sum of approximately $45,000 with interest, alleged to have been erroneously paid by the plaintiff as income taxes, for the fiscal year ending June 30, 1952. The requisite preliminary...
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