...accrued) wholly exempt from the taxes Imposed by this subtitle. (2) Interest. Interest on Indebtedness Incurred or continued to purchase or carry obligations...obligations of the United States Issued after September 24,1917, and originally subscribed for by the taxpayer) the interest on which is wholly exempt from...

...interest on which is not wholly exempt from the taxes imposed under Subtitle A of the Code, or (2) obligations of the United States issued after September 24, 1917, and originally subscribed for by the Internal Revenue Service, Treasury taxpayer, the interest on which is wholly exempt from the taxes...

...the Code, the term "interest paid" as used in section 805(e) means the sum of— (1) All interest for the taxable year on indebtedness, except on indebtedness...incurred or continued to purchase or carry obligations the interest on which is wholly exempt from tax under chapter 1 of the Code. Indebtedness does not...

...the Code, the term "interest paid" as used in section 805(e) means the sum of: (1) All interest for the taxable year on indebtedness, except on indebtedness...incurred or continued to purchase or carry obligations the interest on which is wholly exempt from tax under Chapter 1 of the Code. Indebtedness does not...

...contract. Sec. 201. (o) (6) Interest paid. —The term "interest paid" means (A) All interest paid within the taxable year on indebtedness, except on...than obligations of the United States issued after SepTaxable Years Beginning before 1944 Sec. 2O1. (c) (3) Adjusted re. serves. Section originated 1942...

...section 23 : "In computing net Income there shall he allowed as deductions : • ••«••• "(M INTEREST. — All interest paid or accrued within the taxable year on Indebtedness • • »." 'Webster's New International Dictionary (1924). p. 1125. 'There Is some suggestion that...

...interest paid or accrued on business indebtedness. Do not include in item 21 interest on indebtedness 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...

...II. INTEREST Kntrr tbe amount of interest paid or accrued during the taxable year on the company'a indebtedness, except on indebtedness incurred or continued to purchase or carry obligations (other than obligation* oí the United States iaiued after September 34, 1617, and originally aubaeribed for by...

...disallowed the deduction on the ground that the interest paid by the petitioner was interest paid 1 (b) INTEREST. — All Interest paid or accrued within...States Issued after September 24. 1917, and originally sub scribed for by the taxpayer), the Interest upon which la wholly exempt from the taxes Imposed by...

...stockholder 1 SEC. 23. DEDUCTIONS FROM GROSS INCOME. In computing net Income there shall be allowed as deductions : • • • • . • • • (b) INTEREST....continued to purchase or carry obligations (other flu" obligations of the United States issued after September 24, 1917, and originally subscribed for...