Respondent determined a deficiency in income tax for the calendar year 1944 in the amount of $6,627.78.
Certain issues having been abandoned by petitioner, the sole remaining question is whether the whole or any part of a sum of money received by petitioner growing out of an arrangement for the operation of vessels under a general agency agreement with the War Shipping Administration is to be treated as ordinary income or as capital gain.
Some of the facts...
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