LESLIE v. COMMISSIONER OF THE INTERNAL REVENUE

No. 485, Docket 33037.

413 F.2d 636 (1969)

John E. LESLIE and Evelyn G. Leslie, Petitioners-Appellees, v. COMMISSIONER OF THE INTERNAL REVENUE, Defendant-Appellant.

United States Court of Appeals Second Circuit.

Decided July 15, 1969.


Attorney(s) appearing for the Case

Robert I. Waxman, Atty., Dept. of Justice (Johnnie M. Walters, Asst. Atty. Gen., Lee A. Jackson and Harry Baum, Attys., Dept. of Justice, on the brief), for defendant-appellant.

M. Bernard Aidinoff, New York City (Sullivan & Cromwell, Kendyl K. Monroe and Willard B. Taylor, New York City, on the brief), for petitioners-appellees.

Before WATERMAN, SMITH and KAUFMAN, Circuit Judges.


J. JOSEPH SMITH, Circuit Judge:

The Commissioner of Internal Revenue appeals from a decision of the Tax Court, Charles R. Simpson, Judge, 50 T.C. 2. The decision allowed taxpayer,1 a partner in Bache & Co., a brokerage firm, an interest deduction for federal income tax purposes in his return for the taxable year ending January 31, 1959, and held that no part of the firm's indebtedness in the taxable year was incurred or continued ...

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