MAGRUDER, Circuit Judge.
These are cross-petitions for review of a decision of the Board of Tax Appeals redetermining a deficiency in the taxpayer's income tax for the year 1935. The question presented by the Commissioner's petition is whether two losses, conceded to have been sustained by the taxpayer in 1935, are ordinary losses entitled to full deduction, or are losses "from sales or exchanges of capital assets" entitled to be deducted only to the limited extent...
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