Affiliated Enterprises, Inc. v. Commissioner

MURRAH, Circuit Judge.

The question presented by this appeal is whether 80 per cent of the taxpayer’s income for the taxable year 1937 was derived from “royalties” or “other like property”, and consequently taxable as personal holding company income within the meaning of Section 351(b) of the Revenue Act of 1936, c. 690, 49 Stat. 1648, as amended by Section 1 of the Revenue Act of 1937, c. 815, 50 Stat. 813.1 The answer depends on whether the principles an*648nounced by this court in a former case involving the taxpayer’s income for the taxable years 1934, 1935 and 1936 is applicable to and…