LITTLETON, Judge.
The question presented in this case is whether under the provisions of sec. 22 of the Revenue Act of 1936, 49 Stat. 1648, 1657, 26 U.S.C.A. Int.Rev.Acts, page 825, continued unchanged in all subsequent taxing acts and in Regulations 94, art. 22(a)-16, first adopted and promulgated May 2, 1934 in T.D. 4430 (XIII-1 C.B. 36), a gain of $2,100 derived by a corporation on the transfer or sale by it for $3,600 of certain shares of its own stock (not as...
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