Respondent determined a deficiency of $38,606.66 in income and Victory tax against each petitioner for the taxable year ended December 31, 1943. The only remaining issue is whether the respondent erred in determining "that the exchange in 1942 of 900 shares of stock of W. H. George, Inc., for 3,214 shares of stock of Mississippi Tractor and Equipment Company of Louisiana, Inc., was an exchange upon which gain was recognized under the provisions of Section 112 (a) of the Internal...
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