ZEPHYR MILLS, INC. v. COMMISSIONER

Docket No. 65923.

18 T.C.M. 794 (1959)

T.C. Memo. 1959-181

Zephyr Mills, Inc. v. Commissioner.

United States Tax Court.

Filed September 28, 1959.


Attorney(s) appearing for the Case

Joseph J. Brown, Esq., 1535 Land Title Building, Philadelphia, Pa., for the petitioner. Albert Squire, Esq., for the respondent.


Memorandum Opinion

TIETJENS, Judge:

The Commissioner determined deficiencies in income tax for the taxable years ended June 30, 1953, and June 30, 1954, in the respective amounts of $2,144.36 and $5,404.57.

The only question for decision is whether the amounts of $26,262.36, $26,490, $16,578, $30,894, and $15,456 were properly claimed as deductions for interest in the fiscal years ending June 30, in 1948, 1949, 1950, 1951, and 1952. The decision...

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