CLARK, Circuit Judge.
In this case the taxpayer Weldon D. Smith sought restoration of a deduction of $38,220 in his income tax return for 1945 which the Commissioner had disallowed. The taxpayer claimed this deduction as a business debt which became worthless during the year as authorized by I.R.C. § 23 (k) (1), 26 U.S.C. § 23(k) (1). The Commissioner challenged the deduction on several grounds. A majority of the Tax Court sustained the taxpayer's claim...
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