WILBUR, Circuit Judge.
Petitioner seeks to review a decision of the Board of Tax Appeals fixing a deficiency tax of $39,731.98 upon petitioner's income for the year 1923. The principal question in the case is whether or not the royalty of $114,908.31, upon which the deficiency is based, is income or is a return of capital, and this in turn depends upon the value of one-third of the capital stock of the San Gabriel Petroleum Company, owned by the petitioner, and upon...
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