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SCHMITT v. C. I. R.

No. 16341.

271 F.2d 301 (1959)

Joe L. SCHMITT, Jr., and Helen N. Schmitt, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Ninth Circuit.

October 15, 1959.

Attorney(s) appearing for the Case

Ash, Bauersfeld & Burton, Robert Ash, Carl F. Bauersfeld, Washington, D. C., for petitioners.

Charles K. Rice, Asst. Atty. Gen., C. Guy Tadlock, Lee A. Jackson, Robert N. Anderson, George W. Beatty, Attys., Dept. of Justice, John M. Morawski, Sp. Atty., I. R. S., Washington, D. C., for respondent.

Before BARNES and HAMLEY, Circuit Judges, and ROCHE, District Judge.

BARNES, Circuit Judge.

The crucial question in this case is whether for income tax purposes an agreement executed by the taxpayer1 constituted a sale of patent rights, and income derived therefrom was therefore long term capital gain; or whether the contract constituted a license, and hence income derived therefrom ordinary income.

The Tax Court held2 there...

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