ARUNDELL, Judge:
The respondent determined deficiencies in income tax for the taxable years ended June 30, 1949, June 30, 1950, and June 30, 1951, in the respective amounts of $35,891.27, $32,354.72, and $44,932.56.
The issues remaining for our decision are:
1. Whether the respondent erred in disallowing deductions for interest expense under the provisions of section 23(b) of the Internal Revenue Code of 1939 of $120,000, $90,000, and $90,000...
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