The Commissioner determined a deficiency of $24,435.23 in income tax for 1943. The petitioner alleges that the Commissioner erroneously included in income for 1942 the entire $27,848.24 received from Cotwool Manufacturing Corporation which the petitioner reported as a long term capital gain and failed to allow as an ordinary loss deduction, $33,411.29 paid by the petitioner as a transferee during 1942, representing his share of Federal income tax deficiencies determined against...
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