SWAN, Circuit Judge.
This case involves the income tax liability of O. P. P. Holding Corporation, hereafter referred to as the taxpayer, for the fiscal year ending July 31, 1930. The Commissioner disallowed a deduction of $20,000 from gross income which the taxpayer claimed to be a payment of interest on its debenture bonds. The Board of Tax Appeals reversed this determination, with the result that no deficiency in tax exists. The Commissioner has appealed.
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