Memorandum Findings of Fact and Opinion
ATKINS, Judge:
The respondent determined deficiencies in income tax for the fiscal years ended August 31, 1952 and 1953 in the respective amounts of $92,952.09 and $63,158.64.
The petitioners allege that the respondent erred in disallowing claimed deductions for interest paid to Cushing Investment Corporation in the amounts of $184,729.63 and $100,000 in the fiscal years 1952 and 1953, respectively, in connection...
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