| United States. Internal Revenue Service - 1964 - 888 pages
...continued to purchase or carry obligations the interest on which is exempt from Federal income taxes. It has been held that interest paid on indebtedness...specified by ruling in 1961 (Rev. Rul. 61-222, 1961-2 CB 58). (6) General reasons for provision. — A witness before your committee called attention to the... | |
| United States. Internal Revenue Service - 1967 - 1510 pages
...61-222, CB 1961-2, 58, held that the provisions of section 265(2) of the Code have no application to interest paid on indebtedness represented by deposits...in banks engaged in the general banking business. Thus, where a bank accepts deposits in the general course of its business, it is entitled to deduct... | |
| United States Congress. House. Banking and Currency Committee - 1963 - 1116 pages
...follows : The provisions of section 265(2) of the Internal Revenue Code of 1954 have no application to interest paid on indebtedness represented by deposits in banks engaged in the general banking business since such indebtedness is not considered to be "indebtedness incurred or continued to purchase or... | |
| United States. Congress. Senate. Committee on Finance - 1968 - 732 pages
...1961, in which it recognized Hat the provisions of section 265(2) "have no application to interest oaid on indebtedness represented by deposits in banks engaged in the general banking business." So far as it goes, this is clearly in accordnice with congressional intent as expressed in the legislative... | |
| United States. Congress. House. Committee on Banking and Currency - 1964 - 1108 pages
...follows : The provisions of section 265(2) of the Internal Revenue Code of 1954 have no application to interest paid on indebtedness represented by deposits in banks engaged in the general banking business since such indebtedness Is not considered to be "indebtedness incurred or continued to purchase or... | |
| United States. Internal Revenue Service - 1971 - 816 pages
...holds that the provisions of section 265(2) of the Internal Revenue Code of 1954 have no application to interest paid on indebtedness represented by deposits in banks engaged in the general banking business since such indebtedness is not considered to be "indebtedness incurred or continued to purchase or... | |
| United States. Congress. Joint Committee on Taxation - 1983 - 72 pages
...1961-2 CB 58, the Service stated its position that the provisions of the law "have no application to interest paid on indebtedness represented by deposits in banks engaged in the general banking business since such indebtedness is not considered to be 'indebtedness incurred or continued to purchase or... | |
| United States. Congress. Senate. Committee on Finance - 1983 - 372 pages
...1961-2 CB 58, the Service stated its position that the provisions of the law "have no application to interest paid on indebtedness represented by deposits in banks engaged in the general banking business since such indebtedness is not considered to be 'indebtedness incurred or continued to purchase or... | |
| United States. Congress. Senate. Committee on Finance - 1983 - 370 pages
...1961-2 CB 58, the Service stated its position that the provisions of the law "have no application to interest paid on indebtedness represented by deposits in banks engaged in the general hanking business since such indebtedness is not considered to be 'indebtedness incurred or continued... | |
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