This case involves an income tax deficiency of $16,255.28 for the taxable period January 1 to October 20, 1944, inclusive. The issue is whether the gain realized by decedent upon receipt of a condemnation award should be recognized, as determined by the respondent, or whether recognition of the gain should be postponed in accordance with the provisions of section 112 (f), I. R. C., relating to involuntary conversions, as contended by the petitioner.
In its prayer...
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