L. HAND, Circuit Judge.
The Commissioner appeals from an order of the Tax Court, expunging a deficiency that he had assessed against Dwyer, the taxpayer, in his income tax for the year, 1946. The appeal turns upon whether Dwyer should be allowed to deduct the amount of his opening inventory for the year under the following circumstances. He has operated a hotel and restaurant since 1932, in the course of which he sells alcoholic drinks at retail, so that the "sale...
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