GENERAL ALLOY CASTING CO. v. COMMISSIONER

Docket No. 91381.

23 T.C.M. 887 (1964)

T.C. Memo. 1964-148

General Alloy Casting Company v. Commissioner.

United States Tax Court.

Filed May 28, 1964.


Attorney(s) appearing for the Case

William W. Scott, Jr., 2900 Grant Bldg., Pittsburgh, Pa., and John E. Laughlin, Jr., for the petitioner. Lawrence L. Wilson, for the respondent.


Memorandum Findings of Fact and Opinion

FISHER, Judge:

Respondent determined a deficiency in income tax of petitioner for the fiscal year ended June 30, 1958, in the amount of $4,590.15.

The issue presented for consideration is whether petitioner, for the fiscal year ended June 30, 1958, is entitled to a deduction under section 163(a), Code of 1954, for interest in the amount of $6,750.

Petitioner conceded that respondent did not err in disallowing...

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