RAUM, Judge:
The Commissioner determined deficiencies of $15,625.70 and $14,812.23 in petitioner's Federal income taxes for the calendar years 1967 and 1968, respectively. At issue are: (1) Whether portions of the interest expense deductions claimed by petitioner for the taxable years should be disallowed because they represent interest on indebtedness "continued to purchase or carry" tax-exempt obligations within the meaning of section 265(2), I.R.C. 1954...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
