MANTON, Circuit Judge.
Respondent during 1918 owned a large block of stock in the Phelps Dodge Corporation. He received a large sum through a distribution made by that corporation to its stockholders in 1918, and in his report for income tax he claimed the right to deduct from the earnings and profits available for distribution to stockholders, the federal income tax of the corporation. The petitioner claims the tax of the corporation ought not to be taken out as...
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