United States Board of Tax Appeals August 25, 1931, Docket No. 38726 (John Douglas Co. v. Commissioner)

*1310OPINION.

Van Fossan:

The first question presented for our consideration in this case is whether or not applications for patents, maturing into patents, are subject to depreciation or exhaustion. The respondent’s counsel had devoted himself almost exclusively to the theory that they are not, but we have frequently decided to the contrary. Individual Towel & Cabinet Service Co., 5 B. T. A.