This Federal income tax case is an outgrowth of the "Teapot Dome" leases and litigation, and involves two comparatively narrow issues: (1) The deductibility for the tax year 1930, of a loss, business expense, or bad debt item, allegedly sustained by petitioner, in the sum of $2,906,484.32, which was the amount of a consent judgment entered in a tort suit against petitioner's wholly-owned subsidiary....
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