Respondent determined a deficiency in petitioner's Federal income tax for its fiscal year ended July 31, 1953, in the amount of $15,503.61. This deficiency resulted from respondent's disallowance of a net operating loss deduction of $18,932.37 and his disallowance of a "loss from operation of retail liquor and grocery store" in the sum of $3,186.93. At the trial herein respondent conceded error in his disallowance of the second item. Thus the only issue remaining in the case...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
