James C. DuBois, Sr. - Page 7

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          See New Colonial Ice Co. v. Helvering, 292 U.S. 435, 440 (1934);            
          see also sec. 6001; sec. 1.6001-1(a), Income Tax Regs.  We hold             
          that petitioner is not entitled to deduct any of his claimed                
          gambling losses.                                                            

                                                  Decision will be entered            
                                             under Rule 155.                          



































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