TUTTLE, Chief Judge:
This petition for review of a decision of the Tax Court attacks the decision of that court denying as a deduction under Section 165(c) (2), of the Internal Revenue Code of 1954, as a loss incurred in a transaction that was entered into for profit, a substantial sum paid by the taxpayer pursuant to an indemnity agreement which he gave as part of a merger of his corporation with another corporation. The Tax Court held that this expenditure was of...
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