HANEY, Circuit Judge.
The question presented is whether or not a deduction from gross income may be taken for an alleged loss of a monopoly in the field of transportation for hire. The Board approved the disallowance of the loss by respondent.
In 1921 the State of Washington began to regulate motor carriers operating for the transportation of persons and property for compensation between fixed termini or over a regular route in that state. Regulation was effected...
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