GANEY, District Judge.
The action here concerned was brought by the taxpayer for the recovery of $193,834.78 claimed to have been erroneously paid by it as a portion of its income and excess profits taxes for the years 1943, 1944 and 1945.
In 1943, the taxpayer sustained a loss of $405,661.83 because the bonds of its wholly owned subsidiary became worthless. Broadly stated the question posed is whether that loss is deductible in full for 1943, pursuant to...
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