SWAN, Circuit Judge.
The question presented by this appeal is whether the petitioner is exempt from liability for income tax under section 101(8) of the Internal Revenue Code, 26 U.S.C. A. § 101(8). If it is, section 727a of the Code, 26 U.S.C.A. § 727(a), grants exemption from excess profits tax. The Tax Court held it was not exempt under section 101(8) and accordingly determined the deficiencies now under review, $439.41 in declared value excess profits...
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