LITTLETON, Judge.
The first question is whether interest of $306,168.01 on unsecured claims of an insolvent corporation paid by the receivers thereof on May 28, 1917, was a proper deduction in that year or whether it was an accrued expense annually for income and excess profits tax purposes from February 6, 1912, when the receivers were appointed.
Plaintiff contends that interest on such indebtedness of an insolvent corporation does not accrue or become a...
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