CHASE, Circuit Judge.
This petition to review a decision of the Tax Court of the United States requires us to determine whether, when the respondent in 1936 turned in property held for productive use in its business in part payment for like property to be held for like use, cash it received in connection with the exchange to pay off a mortgage on the old property turned in was income taxable to the respondent. The Tax Court held that it was not and the Commissioner...
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