This case involves income tax liability for the calendar year 1940. A deficiency of $24,784.28 was determined by the Commissioner. The one question for consideration is whether the petitioner is taxable upon interest paid upon a note which, with interest accrued thereon, petitioner gave to her children. A part of the facts were set forth in a stipulation, and we find them to be as so stipulated. Such parts thereof as are considered pertinent are set forth herein together...
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