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ROYALTON STONE CORPORATION v. C. I. R.

Nos. 443-449, Dockets 31056-31062.

379 F.2d 298 (1967)

ROYALTON STONE CORPORATION, Frontier Stone Products, Inc., Holman O'Connor, Mary W. O'Connor, James M. Switzer and Dorothea W. Switzer, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Second Circuit.

Decided June 14, 1967.

Attorney(s) appearing for the Case

Albert R. Mugel, Buffalo, N. Y. (Timothy C. Leixner, Jaeckle, Fleischmann, Kelly, Swart & Augspurger, Buffalo, N. Y., on the brief), for petitioners.

Jonathan S. Cohen, Washington, D. C. (Mitchell Rogovin, Asst. Atty. Gen., Lee A. Jackson and Grant W. Wiprud, Attys., Dept. of Justice, Washington, D. C., on the brief), for respondent.

Before SMITH, KAUFMAN and HAYS, Circuit Judges.

HAYS, Circuit Judge:

These are petitions for review of decisions of the Tax Court holding that certain payments received by the taxpayers1 were ordinary income, to wit, royalty payments on minerals extracted from taxpayers' property, and not payments of the purchase price for the sale of the property. We affirm the decisions of the Tax Court.

Royalton Stone Corporation and Frontier Stone...

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