Memorandum Findings of Fact and Opinion
ATKINS, Judge:
The respondent determined a deficiency in income tax for the taxable year ended October 31, 1956, in the amount of $105,051.48.
The sole issue presented is whether the petitioner may carry over and deduct from income earned by it in its taxable year ended October 31, 1956, net operating losses sustained in the taxable years ended December 31, 1952, December 31, 1953, and October 31, 1954, by...
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