PER CURIAM.
The problem in this case is whether a settlement and discharge of appellant taxpayer's debt of $39,335.07 (upon the acceptance by a creditor corporation of a payment of $4,000) constituted income of $35,335.07 to the taxpayer, or whether such a settlement and discharge constituted a gift of that amount to the taxpayer by the creditor corporation (and therefore entitled the taxpayer corporation to an exemption of this amount from its gross...
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