BECKER v. COMMISSIONER

Docket Nos. 61468, 67214.

18 T.C.M. 95 (1959)

T.C. Memo. 1959-19

Matthew M. Becker and Anne M. Becker v. Commissioner.

United States Tax Court.

Filed January 30, 1959.


Attorney(s) appearing for the Case

John P. Allison, Esq., 521 Fifth Avenue, New York, N. Y., and Stanley W. Herzfeld, Esq., for the petitioners. Emil Sebetic, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

OPPER, Judge:

In these consolidated proceedings respondent determined deficiencies in income tax for the years 1953 and 1954 of $54,427.28 and $5,043.32, respectively. Petitioners allege that respondent erred in disallowing deductions claimed for interest paid in those years in the respective amounts of $29,048.80 and $8,412.87 in connection with the purchase of United States Treasury notes, the interest on which is...

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