BRUCE, Judge:
This proceeding involves a deficiency in income tax of $17,261.71 for 1953. The only issue is whether petitioner is entitled to deduct $31,309.41 as interest paid in 1953 pursuant to section 23(b), I.R.C. 1939.
FINDINGS OF FACT.
During the year in issue the principal petitioner, Egbert J. Miles, and his wife, Jean, resided in Woodbridge, Connecticut. They filed a joint income tax return for the year 1953 with the district director...
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