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RODEWAY INNS OF AMERICA v. COMMISSIONER

Docket No. 8311-72.

63 T.C. 414 (1974)

RODEWAY INNS OF AMERICA, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed December 24, 1974.

Attorney(s) appearing for the Case

William L. Raby, for the petitioner.

Harry Beckhoff, for the respondent.

SIMPSON, Judge:

The Commissioner determined a deficiency of $43,094.22 in the petitioner's 1968 Federal income tax. The issue to be decided is whether a payment made as consideration for canceling certain exclusive rights constituted a business expense under section 162(a) of the Internal Revenue Code of 19541 or whether it was a capital expenditure under section 263(a) and amortizable under...

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