United States Tax Court.
This proceeding is for the redetermination of a deficiency in excess profits tax for the calendar year 1940 in the amount of $29,707.82. The question in issue is the measure of relief to which petitioner is entitled under section 721, Internal Revenue Code, on account of the realization in 1940 of net abnormal income attributable to other taxable years.
Most of the essential facts are contained in a stipulation filed by the parties, which is incorporated in our findings...
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