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C. I. R. v. POLK

No. 6202.

276 F.2d 601 (1960)

COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. Frank POLK and Marie Polk, Respondents.

United States Court of Appeals Tenth Circuit.

March 17, 1960.

Attorney(s) appearing for the Case

John J. Pajak, Department of Justice, Washington, D. C. (Howard A. Heffron, Acting Asst. Atty. Gen., Lee A. Jackson and Harry Baum, Attorneys, Department of Justice, Washington, D. C., on the brief), for petitioner.

Ranel Hanson, Oklahoma City, Okl., for respondents.

Before BRATTON, HUXMAN and PICKETT, Circuit Judges.

HUXMAN, Circuit Judge.

This is an appeal by the Commissioner of Internal Revenue from a decision of the Tax Court holding that interest on a personal income tax deficiency assessed against an individual taxpayer is a deduction "attributable to the operation of a trade or business" for the purpose of computing a net operating loss under Section 122(d) (5) of the Internal Revenue Code of 1939, 26 U.S.C.A. § 122(d) (5), where the deficiency on which the interest...

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