HOYT, Judge.
Respondent determined a deficiency in income tax against petitioner in the amount of $120,429.60 for petitioner's taxable year ended January 31, 1958. Respondent's disallowance of a portion of petitioner's claimed deduction for accrued taxes has not been challenged. Hence, the only issues remaining for decision are: (1) Whether petitioner realized $253,090.75 of rent income as a result of a transaction in which it purchased a warehouse property...
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