The respondent determined deficiencies in income tax in the amounts of $3,763.52 and $10,913.23 for the calendar years 1950 and 1951, respectively.
The parties have agreed to make automatic adjustments for an operating net loss carryover from 1950 to 1951 in the event the Court sustains petitioner on the remaining issue involved herein. That issue involves the correctness of respondent's determination that the sum of $43,407 received by petitioner in the year 1950...
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