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OAK MANUFACTURING CO. v. UNITED STATES

No. 13520.

301 F.2d 259 (1962)

OAK MANUFACTURING CO., Plaintiff-Appellant, v. The UNITED STATES of America, Defendant-Appellee.

United States Court of Appeals Seventh Circuit.

April 4, 1962.

Attorney(s) appearing for the Case

Peter B. Atwood, Chicago, Ill., for appellant.

James P. O'Brien, U. S. Atty., Chicago, Ill., Louis F. Oberdorfer, Asst. Atty. Gen., John A. Bailey, Atty., Tax Division, Lee A. Jackson, I. Henry Kutz, Attys., Dept. of Justice, Washington, D. C., for appellee. Robert A. Maloney, Asst. U. S. Atty., of counsel.

Before DUFFY, SCHNACKENBERG and SWYGERT, Circuit Judges.

DUFFY, Circuit Judge.

This appeal involves a claim for refund of federal income taxes for the years 1954, 1955 and 1956. There is no dispute as to the facts. The question involved is whether amounts received by plaintiff (Oak) under an agreement executed November 9, 1936, with British N.S.F. Company, Ltd. (N.S.F.), as licensee, are taxable as long-term capital gains or as ordinary income. Oak contends that the amounts received by it under Paragraph 5 of the 1936 agreement...

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