United States Board of Tax Appeals December 6, 1928, Docket No. 14337 (Kentucky Electric Lamp Co. v. Commissioner)

*604OPINIOÍT.

Lansdon :

The only question here is whether the petitioner in the circumstances set forth in our findings of fact had the right to accrue the additional royalties for which, under its license contract, it became liable in the respective taxable years as ordinary expenses for such years.