PER CURIAM.
Hartman, an experienced builder, was sole stockholder in two corporations which were organized for the purpose of constructing, and did construct, two projects financed by mortgages insured by the Federal Housing Administration. The costs of these projects were substantially less than the proceeds of the mortgages, and a part of this excess was distributed to Hartman. Hartman, in his tax returns for 1950 and 1951, treated these distributions as capital...
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