Hill v. Commissioner

1. Action of respondent in disallowing for 1921 and 1923 deductions taken for interest paid, his action in increasing petitioner's distributive share of partnership profits for 1921 and in reducing the amount of depreciation taken in 1921 and 1923 approved because of insufficient evidence. 2. Action of respondent in determining that the petitioner made a profit in 1923 on the sale of a one-half interest in the furniture, fixtures and equipment of a hotel approved for lack of sufficient evidence. 3. Petitioner in a prior year paid a contractor the amount due for materials furnished in making…