MTR. GRACE v. NYS TAX COMM.


37 N.Y.2d 193 (1975)

In the Matter of Michael P. Grace, Respondent, v. New York State Tax Commission, Appellant.

Court of Appeals of the State of New York.

Decided June 12, 1975.


Attorney(s) appearing for the Case

Louis J. Lefkowitz, Attorney-General (Francis V. Dow, Ruth Kessler Toch and Vincent P. Molineaux of counsel), for appellant.

Walter J. Rockler for respondent.

Judges JASEN, GABRIELLI, JONES, WACHTLER, FUCHSBERG and COOKE concur.


Chief Judge BREITEL.

In an article 78 (CPLR) proceeding, the State Tax Commission appeals from a judgment, denominated an order, of the Appellate Division modifying its determination. The commission had determined that, under article 16 of the Tax Law governing personal income tax, taxpayer was not entitled in reporting his 1955 State taxable income to deduct full amortization of bond premiums paid by him in...

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