Memorandum Findings of Fact and Opinion
QUEALY, Judge:
The respondent determined a deficiency in the Federal income tax due from the petitioner Juleo, Inc. for petitioner's taxable year ended October 31, 1966 in the amount of $9,829.49.
The only issue presented for decision is whether condemnation by the State of New Jersey of property held by the petitioner primarily for sale to customers in the ordinary course of business converts the character...
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