Respondent determined a deficiency in petitioner's income tax for 1957 in the amount of $6,309.62. The only adjustment is explained in the notice of deficiency as follows:
(a) It has been determined that you did not sustain a loss of $12,133.89 from demolition of building as claimed in your income tax return for the taxable year 1957.
The single issue presented for decision is whether or not petitioner sustained a deductible loss due to the demolition of a...
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