The respondent determined deficiencies in income tax against the petitioner for the years 1946, 1947, and 1948 of $1,109.03, $3,918.43, and $4,437.43, respectively. The questions presented are (1) whether petitioner sustained a deductible loss in 1944 as a result of the expiration of its right in that year to redeem a royalty interest then owned by it, (2) whether legal expenses paid by petitioner in 1944 were deductible
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