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BETTER BEVERAGES, INC. v. UNITED STATES

No. 78-2880.

619 F.2d 424 (1980)

BETTER BEVERAGES, INC., Plaintiff-Appellant, v. UNITED STATES of America, Defendant-Appellee. S. A. STRANE and wife, Alice F. Strane, and Billy F. Strane, individually and as independent executor of the Estate of Adele Strane, Deceased, Plaintiffs-Appellees. v. UNITED STATES of America, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

June 18, 1980.

Attorney(s) appearing for the Case

Robert I. White, Martin B. Whitaker, Houston, Tex., for plaintiff-appellant.

M. Carr Ferguson, Asst. Atty. Gen., Gilbert E. Andrews, William A. Whitledge, Jonathan S. Cohen, Attys., Tax Div., U. S. Dept. of Justice, Washington, D. C., for United States of America.

Fulbright & Jaworski, Kenneth L. Stewart, Charles W. Hall, Houston, Tex., for S. A. Strane, et al.

Before JONES, GEE and REAVLEY, Circuit Judges.

REAVLEY, Circuit Judge:

This appeal was born of the inconsistent treatment of a portion of the proceeds from the sale of a going business, the Dr. Pepper Bottling Co. of Victoria, Texas, by its sellers, S.A. and Billy F. Strane, and its purchaser, Better Beverages, Inc., on their respective federal income tax returns. The question presented is whether any portion of the lump sum purchase price should be characterized as payment for the sellers' covenant not to compete...

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