United States Board of Tax Appeals April 18, 1941, Docket No. 100406. (Kena, Inc. v. Commissioner)

lead-opinion

*219OPINION.

Van Fossan :

The respondent has pitched his entire argument on the interpretation of the word “interest” as used in section 351 (b) (1) (!A). The petitioner contends that the sum received by it pursuant to the contract with deMauriac was not interest and did not represent “gains from the sale of stock or securities.