PER CURIAM.
Petitioner Stanley S. Sayres, a well known power boat racing enthusiast, sought to deduct expenses of building, maintaining and operating certain of these boats as an ordinary and necessary expense of petitioner American Properties, Inc., a corporation of which Sayres was the sole owner. Int.Rev.Code of 1939, § 23(a) (1) (A), 26 U.S.C.A. § 23 (a) (1) (A). These deductions were denied by the Commissioner who considered them not to be business...
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