MULRONEY, Judge:
The respondent determined deficiencies in petitioner's income tax for the fiscal years ended June 30, 1956, 1957, and 1958, of $4,122.63, $35,748.26, and $24,803.67, respectively, and an addition to tax for 1956 under section 6651 of the Internal Revenue Code of 1954
Petitioner had net operating losses in years prior to 1956. In 1956 petitioner's capital stock was sold to another corporation...
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