...Indebtedness, except on Indebtedness Incurred or continued to purchase or carry obligations (other Hian obligations of the United States Issued after September 24, 1917, and originally labscribed tor by the taxpayer) the Interest upon which Is wholly exempt from the taxes Imposed by...

...(c)(3), the term "Interest paid" means — (1) all interest paid or accrued within the taxable year on indebtedness except on indebtedness incurred or continued...originally subscribed for by the taxpayer) the interest on which is wholly exempt from taxation under this chapter ; and (2) all amounts in the nature of interest,...

...— Enter interest paid or accrued on business indebtedness. Do not include interest on indebtedness incurred or continued to purchase or carry obligations...originally subscribed for by the taxpayer) the interest on which is wholly exempt from income tax. (Section 265.) See section 267 for limitation on deductions...

...deductions : • *•••** (b) INTEREST. — All interest paid or accrued within the taxable year on Indebtedness, except on indebtedness Incurred or continued...September 24, 1917, and originally subscribed for b; the taxpayer) the Interest upon which Is wholly exempt from the taxes Imposed by this chapter. equipment...

...continued to purchase or carry obligations which yield interest wholly exempt from tax, except such obligations of the United States issued after September...1917, and originally subscribed for by the taxpayer. Deductions on account of interest should be itemized and explained in Schedule A on page 2 of the return....

...the taxable year on Indebtedness, except on Indebtedness Incurred or continued to purchase or curry obligations (other than obligations of the United...taxpayer) the Interest upon which Is wholly exempt from the taxes Imposed by this chapter. ' Rev. Rul. 54-94 : The attention of the Internal Revenue Service...

...: • •»•••• (b). INTBHBST. — All Interest paid or accrued within the taxable year on Indebtedness, except on Indebtedness Incurred or continued...United States Issued after September 24, 1917, and original!; subscribed for by the taxpayer) the Interest upon which Is wholly exempt from the taxes...

...deductions : • •••»«. (b) INTEREST. — All Interest paid or accrued within the taxable year on Indebtedness, except on Indebtedness incurred or continued...obligations of the United States Issued after September 21, 1917, and originally subscribed for by the taxpayer) the Interest upon which Is wholly exempt from...

...interest paid Is the sum of — "(1) INTEREST ON INDEBTEDNESS. — 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 taxation under this chapter. "(2) AMOUNTS IN THE NATURE...

...interest paid is the sum of — "(1) INTEREST ON INDEBTEDNESS. — 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 taxation under this chapter. "(2) AMOUNTS IN THE NATURE...