By this proceeding petitioner challenges respondent's determination of deficiencies in declared value excess profits tax for the taxable year 1943 in the amount of $323.07 and in excess profits tax for the taxable year 1944 in the amount of $18,651.96.
The only question in dispute is whether petitioner is entitled to deduct in 1943 the sum of $17,068.68, or any lesser amount, as a loss resulting from the scrapping of tumbling barrels and tanks in that year. That deduction...
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