The Commissioner determined a deficiency in excess profits tax for the calendar year 1951 in the amount of $2,693.37. There is no deficiency in income tax. The question presented is whether, under the provisions of section 456 (b), 1939 Code, petitioner is entitled to exclude from excess profits net income for 1951 all or any part of $31,403.38, insurance proceeds recovered for loss of goods destroyed or damaged by fire, as abnormal income attributable to a future year. The...
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