Respondent determined deficiencies for the calendar year 1943 in the amounts of $19,309.11 in declared value excess profits tax and $321,261.16 in excess profits tax. The principal issue is whether petitioner sustained a deductible loss of $381,710.97 upon the transfer in 1943 of certain real property consisting of a foundry building and land. Another issue, arising only in the event petitioner is held not to have sustained the claimed loss, is whether petitioner is entitled...
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