PER CURIAM.
The question presented for solution is the proper cost basis of property acquired by the taxpayer in 1931 and sold in 1937. The sale price being less than the cost, the taxpayer claimed a capital loss in its 1937 income tax return, but the commissioner reduced the cost basis by deducting the amount of depreciation allowable under the income tax laws during the taxpayer's ownership, and thereby determined a capital gain which produced the deficiencies complained...
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