ARUNDELL, Judge:
Respondent determined a deficiency in income and excess profits taxes for the taxable period January 1, 1952, to December 15, 1952, in the amount of $200,967.04.
After concessions by both parties, three issues remain for our determination, as follows:
1. Are Virginia Metal Products Corporation and its affiliated companies entitled to a deduction in a consolidated return for an alleged loss from the sale of the assets and business...
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