CHASE, Circuit Judge.
This petition by the Commissioner of Internal Revenue to review a decision of the Tax Court brings up the taxability of gains the respondent made in 1939 and 1941 in selling its own capital stock to its employees. Although the deficiencies expunged by the Tax Court were determined by the Commissioner in the respondent's income taxes for both years, in its declared value excess profits taxes for 1939, and in its excess profits taxes for 1941;...
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