& Commissioner In re: of Internal —— IT: SM-IG-AGOOe /of the Tax Unit from time to time, and undoubtedly no One It follows also thet consistently argue otherwise. “Gould has heretorore acauisition,as of date at they were capital been. snown. Vebster’'s Dictionary defines 7 “cap owned by ett “ta hath 3: indiviaue. or corpo the income rei ft r < ne distinct. aS tine , during a given peri OGa 7 "(a) The of f bos cote mn . amount iT34 —s + abs "(b) used ae Phe amount of such property which is for business purposes. Sense (a) is the one in which the word is ordinerily used accountants; for example, in contrasting & capital account with an income account. Sense {b) corresponds Smith, who "that part to atfford The the usage of Adam specifically defines capital as of a man’s stock which he expects hin revenus:.'" bictionary Accountants' ° to ao referred to "Capitel hes bsen defined as "weaitn priated to reproduetive employment,' words, that portion whichhe employs Then same this "Capital to of 4 person's produce dictionary receipts must an gives weaith a caution: credited to funtementeal in- Ye However, if provision "reasury ties a received, at Jete pro be not Tepartment, rate yearly f accuisition, ellowed to set up amount of the not only will mental rule be broken, buat the constitutional Browning Company as provided in the Sixteenth be appro-~ in. other These licenses certainly have afforded and do revenue, they have produced end do produce an company,oy. the licenses above income.”. never..be revenue. This is cone of the vrincipies of accounting." afford COME » ty the Browning out value cof royai- of these rights of Amendment the would this funda- violated. The consistently Federal Courts of this United States have very saaintained that the Government is not authorized