Helvering

This is an appeal from the decision of the Board of Tax Appeals. Since this appeal was taken by the Commissioner the Supreme Court has decided the legal question at issue herein adversely to the contention of the respondent and to the decision of the Board of Tax Appeals in the case of Helvering v. Inter-Mountain Life Insurance Co., 294 U.S. 686 , 55 S.Ct. 572 , 79 L.Ed. 1227 . For that reason both parties concede that the decision of the Board must be reversed. Respondent has, therefore, presented a motion that the decision be reversed and, also, that the case be remanded to the Board of Tax Appeals with instructions to consider and determine what deductions the respondent is entitled to make from its gross income under the provisions of the sections of various applicable revenue acts which permit the deduction by life insurance companies of interest paid upon an ordinary indebtedness. Revenue Act 1921, § 245 (a) (8), 42 Stat. 261 ( 26 U.S.C.A. § 203 note) ; Revenue Acts 1924 and 1926, § 245 (a) (8), 43 Stat. 289 , 44 Stat. 47 ( 26 U.S.C.A. § 203 note) ; Revenue Act 1928, § 203 (a) (8), 26 U.S.C.A. § 2203 (a) (8), 1928 Ed. (26 U.S. C.A. § 203 note). That is to say, having…