Hearn Department Stores, Inc. v. Commissioner

OPINION.

Bruce, Judge:

At the hearing the petitioner asserted a claim for relief under section 722 (b) (2), (b) (4), and (b) (5).1 The record contains no facts indicating that petitioner is entitled to relief under section 722 (b) (5) and such section is not mentioned in brief filed by petitioner, and it is assumed that this contention is abandoned.

It is petitioner’s contention under section 722 (b) (2) that its business was depressed during the base period by its failure to obtain certain refinancing which it had contemplated, this failure having resulted in its being without adequate working…