Memorandum Findings of Fact and Opinion
OPPER, Judge:
In these consolidated proceedings respondent determined deficiencies in income tax for the years 1953 and 1954 of $54,427.28 and $5,043.32, respectively. Petitioners allege that respondent erred in disallowing deductions claimed for interest paid in those years in the respective amounts of $29,048.80 and $8,412.87 in connection with the purchase of United States Treasury notes, the interest on which is...
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