Lustig v. United States

LARAMORE, Judge.

The plaintiff sues to recover income taxes for the year 1947 in the amount of $23,571.34, with interest. The plaintiff kept his books and filed his returns on the cash receipts and disbursements basis and used the calendar year as his annual accounting period. The plaintiff contends that he overpaid his income taxes for 1947 because he failed to take a deduction for interest paid during *871that year. A timely claim for refund was filed, rejected, and this suit followed.

The facts are not in dispute and may be summarized as follows: The plaintiff owned or controlled several…