STRUM, Circuit Judge.
This is a petition to review a decision of the Tax Court sustaining a deficiency assessment in petitioner's income taxes for the year 1945.
Petitioner, who is not a dealer in grain nor commodity futures, on June 19, 1945, purchased 50,000 bushels of rye, for his own account, on a grain futures contract. He sold it on December 19, 1945, realizing a gain of $16,662.50, which he returned for income tax purposes as a long term capital gain...
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