Benson v. Commissioner

SIMON BENSON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Benson v. Commissioner

Docket No. 4721.

United States Board of Tax Appeals

9 B.T.A. 279; 1927 BTA LEXIS 2628;

November 23, 1927, Promulgated

Interest paid on a note, executed as a gift, held not to be deductible.

Arthur F. Jones, C.P.A., for the petitioner.

Shelby S. Faulkner, Esq., for the respondent.

ARUNDELL

This is an appeal from the determination of a deficiency in income tax for the year 1921 in the amount of $197.71. The only issue involved is whether interest paid on a promissory note, executed and delivered by the…