United States Board of Tax Appeals January 30, 1926, Docket No. 3440. (Topeka Tent & Awning Co. v. Commissioner)

lead-opinion

*526OPINION.

Smith

: The questions involved in this appeal are: (1) The amount of invested capital to be allowed on certain intangible assets of a partnership paid in to the taxpayer corporation for shares of its capital stock; (2) the amount which may be included in invested capital representing the value of certain intangible-assets, consisting of rights to receive royalties