This proceeding involves a deficiency in excess profits tax of $14,438.83 for the year 1941. The issues are: (1) Whether respondent erred in disallowing a claimed deduction of $26,900, representing the loss sustained from the sale of certain shares of the capital stock of the Standard Banner Coal Co., acquired in 1937; and (2) whether, in determining petitioner's invested capital and average invested capital for the taxable year, respondent erred in reducing its average invested...
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