MULRONEY, Judge:
The respondent determined deficiencies in the petitioner's income tax for the fiscal years ended April 30, 1954, 1955, and 1956, in the amounts of $8,120.17, $14,868.79, and $4,815.42, respectively. The issue is whether the petitioner is entitled to deduct certain losses in the total amount of $74,102.06 incurred in its discontinued auto sales business from its income in the operation of a new business in the fiscal years 1954, 1955, and 1956...
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