Docket No. 5015-64.

25 T.C.M. 953 (1966)

T.C. Memo. 1966-185

Wynnefield Heights, Inc. v. Commissioner.

United States Tax Court.

Filed August 9, 1966.

Attorney(s) appearing for the Case

Leon Meltzer, 1529 Walnut St., Philadelphia, Pa., for the petitioner. Albert J. O'Connor, for the respondent.

Memorandum Findings of Fact and Opinion

The Commissioner determined deficiencies in the income tax of petitioner for its fiscal years ended April 30, 1959 and 1960 in the amounts of $63,855.26 and $55,287.89, respectively. The principal issue is whether certain payments made by petitioner in those years were deductible as interest on indebtedness. Also in question is whether certain amounts paid or accrued by petitioner constituted deductible expenses for "office...

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