WALTHER v. C. I. R.

No. 14030.

316 F.2d 708 (1963)

Joseph E. WALTHER and Mary Margaret Walther, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Seventh Circuit.

May 1, 1963.


Attorney(s) appearing for the Case

William F. Welch, Indianapolis, Ind., for petitioner McHale, Cook, Welch & McKinney, Indianapolis, Ind., of counsel.

Louis F. Oberdorfer, Asst. Atty. Gen., Stephen B. Wolfberg, Atty., Tax Division, U. S. Dept. of Justice, Washington, D. C., Lee A. Jackson, Robert N. Anderson, Attys., Dept. of Justice, Washington, D. C., for repondent.

Before HASTINGS, Chief Judge, and DUFFY and KILEY, Circuit Judges.


DUFFY, Circuit Judge.

Taxpayers filed a petition in the Tax Court to set aside an assessment of a deficiency in federal income tax for the calendar year 1957. Involved is a deduction claimed by taxpayers for interest paid by them on certain promissory notes secured by mortgages. This case involves an interest deduction of $3,941.70 claimed by petitioners in their joint returns and which was disallowed by the Commissioner.

Petitioners are husband and wife residing...

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