MUTUAL ASSURANCE SOCIETY OF VIRGINIA CORPORATION v. COMMISSIONER

Docket No. 3337-72.

32 T.C.M. 839 (1973)

T.C. Memo. 1973-177

Mutual Assurance Society of Virginia Corporation v. Commissioner.

United States Tax Court.

Filed August 8, 1973.


Attorney(s) appearing for the Case

Frank W. Hardy, 510 United Va. Bank Bldg., Richmond, Va., for the petitioner, J. Doyle Tumbleson, for the respondent.


Memorandum Findings of Fact and Opinion

QUEALY, Judge:

The respondent determined a deficiency in petitioner's income tax for the taxable year 1968 in the amount of $5,535.51. This proceeding was submitted under Rule 30 of the Court's Rules of Practice. The sole question for decision is whether any part of a net operating loss of $83,059.04 sustained by the petitioner for the taxable year 1969 can be carried back to the taxable year 1968. This depends, in...

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