Memorandum Opinion
HILL, Judge:
This proceeding involves deficiencies in income tax and declared value excess-profits tax for the calendar year 1940 in the respective amounts of $1,007.95 and $135.65. Two issues are raised by the original pleadings, namely, (1) in arriving at the adjusted basis for determining gain from the sale of property, may petitioner decrease the unadjusted basis by an amount less than the sum of the deductions previously allowed for...
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