Respondent determined a deficiency of $64,681.27 in petitioner's income tax for the calendar year 1952. Petitioner has paid $5,531.39 of this amount, so that the net deficiency involved herein is $59,149.88.
The deficiency arises by reason of respondent's determination that losses of $113,781.01, which petitioner sustained during the taxable year in closing out contracts for the future delivery of English
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.