U. S. ASIATIC CO. v. COMMISSIONER

Docket No. 60595.

30 T.C. 1373 (1958)

U. S. ASIATIC CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed September 30, 1958.


Attorney(s) appearing for the Case

Joseph Weill, Esq., for the petitioner.

Charles B. Markham, Esq., for the respondent.


PIERCE, Judge:

The respondent determined deficiencies in income tax for the years 1950, 1951, and 1952, in the amounts of $108.16, $9,569.30, and $1,057.50, respectively. All of such deficiency for 1950, and part of that for 1951, resulted from respondent's disallowance of a reported net operating loss for the year 1948, in respect of which the benefits of a net operating loss carryover had been claimed.

The issues for decision are:

(1) Whether...

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