Actually, I was correct with my V guesss. It simply has been removed. From the position of the numbers on the butt and the plugged lanyard hole, it has to be a "remodeled" former Victory model, most likely a British service version, from early 1944.
It was re-imported after being surplussed out by the British, had its barrel shortened (thankfully not beyond the lug), and was completely refinished. Since I see no British commercial proofs, the remodel happened here in the US, late 50s/early 60s, and markings including V and remnants of caliber stamping were buffed off. The chambers were reamed to fit .38 Special from the original .38 S&W.
PS: There is a remote possibility someone shortened an original .38 Special US Victory. A good photo down the chamber interiors could confirm or eliminate that possibility.