BULKLEY DUNTON & CO. v. COMMISSIONER

Docket No. 78284.

20 T.C.M. 660 (1961)

T.C. Memo. 1961-133

Bulkley Dunton & Co., Incorporated v. Commissioner.

United States Tax Court.

Filed May 15, 1961.


Attorney(s) appearing for the Case

Mason G. Kassel, Esq., and John A. Gray, Esq., for the petitioner. Howard B. Sweig, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

TIETJENS, Judge:

The Commissioner determined a deficiency in income tax for the taxable year ended March 31, 1955 in the amount of $16,348.12.

The only question for decision is whether the Commissioner properly disallowed a claimed interest deduction in the amount of $30,000.

Findings of Fact

Some of the facts are stipulated, are so found and...

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