...gain recognised on property involuntanlv converted into other property or money as a result of its destruction in whole or in part, theft or seizure,...condemnation or the threat or imminence thereof." Our proposal is intended to touch Just one thing — exemption from excess-profits tax of the net gains...

...its equivalent as a result of (A) its destruction in whole or in part, (B) theft or seizure, or (C) an exercise of the power of requisition or condemnation, or the threat or imminence thereof; and if the taxpayer proceeds forthwith in good faith, under regulations prescribed by the Commissioner...

...CONVERSIONS.— If property (as a result of its destruction in whole or in part, theft or seizure, or nn exercise of the power of requisition or condemnation, or the threat or Imminence thereof) Is compulsorily or Involuntarily converted Into property similar or related in service or use to the...

...the sale or exchange of such property, or from the compulsory or involuntary conversion of property used in the trade or business and capital assets held for more than 6 months, it is provided that if the recognized gains exceed the recognized losses, such gains and losses...

...of the terms "seizure" and "requisition" in § Il7(j). More specifically, the section refers to the "involuntary conversion (as a result of destruction...property used in the trade or business and capital assets . . . ." (Emphasis added.) It is contended that the Government's action in the present case is perhaps...

...exchanges of property used in the trade or business (as defined in section 1231 (b)), and (iii) Prom the compulsory or involuntary conversion (as a result...imminence thereof) of property used in the trade or business (as so defined). (B) Any item, to the extent attributable to the carrying on of the insurance...

...upon sale* or exchanges of property used In the trade or business, pins the recognized galni from tbe compulsory or Involuntary conversion (as a result...exercise of the power of requisition or condemnation or tbe threat or Imminence thereof) of property used In the trade or business and capital assets held...

...recognized in the case of any disposition, including a sale, exchange, gift, transfer, distribution, or an involuntary conversion as a result of destruction...part, theft or seizure, or an exercise of the power of condemnation or the threat or imminence thereof. The general approach of this proposal is comparable...

...recognized in the case of any disposition, including a sale, exchange, gift, transfer, distribution{ or an involuntary conversion as a result of destruction...part, theft or seizure, or an exercise of the power of condemnation or the threat or imminence thereof. The general approach of this proposal is comparable...

...used in the trade or busiess, plus the recognized gains from the compulsory or involuntary aversion (as a result of destruction in whole or in part, theft or iizure, or an exercise of the power of requisition or condemnation r the threat or imminence thereof)...