ALLEN, P.J.
Respondent, Michigan Department of Treasury, appeals as of right from a December 8, 1983, judgment of the Michigan Tax Tribunal canceling an income tax assessment against petitioner, Detroit Bank & Trust Company. We affirm.
The issue in this appeal concerns the treatment for income tax purposes of petitioner's losses from participating in out-of-state partnerships trusts. In 1974, petitioner, a Michigan banking corporation, agreed to become...
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