...intcreet paid or accrued on business indebtedness. Do not include in item 21 interest on indebtedлет incurred or continued to purchase or carry obligations {other than obligations of the United Stales issued after September 24, 1917, and originally subscribed for by the taxpayer) the interest...

...allowance for obsolescence ; (8) Interest. — All interest paid or accrued within the taxable year on its indebtedness, except on indebtedness incurred or continued to purchase or carry obligations or securities (other than obligations of the United States issued after September 24, 1917, and originally...

...officers. [SEC. 23. DEDUCTIONS FROM GROSS INCOME.] [In computing net Income there shall be allowed as deductions:"] (b) Interest. — All interest paid...incurred or continued to purchase or carry obligations or securities (other than obligations of the United States issued after September 24. 1017, and originally...

...Columbia; .... "Sec. 214 (a) That in computing net income there shall be allowed as deductions: .... "(2) All interest paid or accrued within the taxable year...incurred or continued to purchase or carry obligations or securities (other than obligations of the United States issued after September 24, 1917, and originally...

...deductions. Paragraph (8) permits deduction of: "All interest paid or accrued within the taxable year on its indebtedness, except on indebtedness incurred or continued to purchase or carry obligations or securities . . . the interest upon which is wholly exempt from taxation under this title." The language...

...deductions. Paragraph (8) permits deduction of: "All interest paid or accrued within the taxable year on its indebtedness, except on indebtedness incurred or continued to purchase or carry obligations or securities . . . the interest upon which is wholly exempt from taxation under this title." The language...

...allowance for obsolescence; and (8) INTEREST.—All interest paid or accrued within the taxable year on its indebtedness, except on indebtedness incurred or continued to purchase or carry obligations or securities (other than obligations of the United States issued after September 24, 1917, and originally...

...Section 23 (b) of the proposed law, which provides for deductions from gross income, is as follows : " Interest: All interest paid or accrued within the taxable year on indebtedness, except (1) on indebtedness incurred or continued to purchase or carry. or the proceed* of which irvre used...

...officers. [SEC. 23. DEDUCTIONS FROM GROSS INCOME.] [In computing not income there shall be allowed as deductions:] (b) Interest. — All interest paid or...(other than obligations of the United States issued lifter September 24, 1917, and originally subscribed for by the taxpayer) the interest upon which is...

..."SEC. 213. That for the purposes of this title * * * the term 'gross income * * * "(2) AH interest paid or accrued within the taxable year on indebtedness,...incurred or continued to purchase or carry obligations or securities (other than obligations of the United States issued after September 24, 1917, and originally...