OPINION.
MURDOCK, Judge:
The taxes in controversy are income tax of $3,505.45 and declared value excess profits tax of $535.86 for 1941. The only issue is whether the Commissioner erroneously applied section 24 (b) to disallow deductions for losses realized from sales by petitioner to two of its stockholders. The facts have been stipulated.
The petitioner is a corporation doing business in Gainesville, Georgia. The record does not show where...
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