HOLMES, Circuit Judge.
In 1926, petitioner purchased by assignment a ninety-nine year lease, expiring in 2024, on realty in Houston, Texas. In payment therefor, it assumed all obligations of the assignor under the lease, made a cash payment, and contracted to pay, as additional rent, $10,000 a year for a period of twenty-five years. The petition for review presents the question of whether or not the taxpayer was entitled to deduct the full annual payment of $10,000...
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