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WESTINGHOUSE BROADCASTING COMPANY v. C. I. R.

No. 13839.

309 F.2d 279 (1962)

WESTINGHOUSE BROADCASTING COMPANY, Inc., Petitioner, v. COMMISSIONER OF INTERNAL REVENUE.

United States Court of Appeals Third Circuit.

Decided October 19, 1962.

Attorney(s) appearing for the Case

Albert R. Connelly, New York City (Cravath, Swaine & Moore, George G. Tyler, New York City, Leonard E. Kust, Pittsburgh, Pa., George S. Parlin, Jr., New York City, on the brief), for petitioner.

Burt J. Abrams, Washington, D. C. (Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, Harry Baum, Attys., Dept. of Justice, Washington, D. C., on the brief), for respondent.

Before KALODNER, HASTIE and SMITH, Circuit Judges.

KALODNER, Circuit Judge.

Is a television network affiliation contract for a two-year term, automatically renewable in the absence of termination notice for successive two-year terms, a depreciable asset?

That is the question presented by this petition for review of the Decision of the Tax Court which answered it in the negative1 premised on its determination that the contract had "an indeterminate useful life" as of the close of...

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