MARIN CANALWAYS AND DEVELOPMENT CO., INC. v. COMMISSIONER

Docket No. 89717.

20 T.C.M. 1705 (1961)

T.C. Memo. 1961-333

Marin Canalways and Development Co., Inc. v. Commissioner.

United States Tax Court.

Filed December 14, 1961.


Attorney(s) appearing for the Case

Robert M. Winokur, Esq., and Warren Wertheimer, Esq., for the petitioner. James Booher, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

OPPER, Judge:

Respondent determined deficiencies in petitioner's income tax as follows:

  Year                      Deficiency

  1955 .................    $1,929.30
  1957 .................     1,367.53
  1958 .................       694.55

The issue is whether respondent properly disallowed interest expense deductions claimed by petitioner in 1957 and 1958 and carryback losses arising...

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