Friedman v. Commissioner

Decided June 8, 1960

United States Tax Court · decided 1960-06-08

1. Claimed deduction for interest on loans to finance purchase of bonds, held, allowable. L. Lee Stanton, 34 T.C. 1, and Fabreeka Products Co., 34 T.C. 290, followed. 2. Held: allowable. L. Lee Stanton, 34 T.C. 1, and Fabreeka Products Co., 34 T.C. 290, followed. 2. Claimed deductions for amortization of bond premium, held, properly disallowed. Maysteel Products, Inc., 33 T.C. 1021, followed. 3.

Cited by 8 later decisions (1 by the Supreme Court) — most recently February 2019

1 federal appellate ·

Relies on Stanton v. Commissioner · Maysteel Products, Inc. v. Commissioner · Fabreeka Products Co. v. Commissioner

Good law ✅— No negative treatment on recordhow we know

Decision will be entered under Rule 50 · Decided 1960-06-08

View the full empirical analysis of this case →

¶1OPINION.

Opper, Judge:

¶2Of the three issues presented, two — the propriety of deductions for interest paid and contributions to charity — are disposed of in petitioner’s favor on the authority first, of L. Lee Stanton, 34 T.C. 1, and Fabreeka Products Co., 34 T.C. 290, and second, of Maysteel Products, Inc., 33 T.C. 1021. The third deduction claimed, that for amortization of bond premium, is disallowed on the authority of Maysteel Products, Inc., supra.

¶3Beviewed by the Court.

¶4Decision will be entered under Buie 50.

Fisher, J., concurs in the result.BRUCE, J., dissents.