The Commissioner has determined a deficiency in the amount of $4,125.08 in the income tax of the petitioner for its taxable year ending August 31, 1950. No issue has been raised regarding certain minor adjustments, and the sole issue, involving approximately $4,000 of the above deficiency, is whether the petitioner was entitled to a net operating loss deduction in the taxable year involved in respect of a loss sustained in its fiscal period September 6, 1946, to August 31...
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