dissenting in part: The petitioner paid $3,000 to secure a lease which was to pay him income over a period of two years. Such payment represents the cost to him of such lease and should be recovered by deductions taken over the period of the lease. Duffy v. Central Railroad Co., 268 U. S. 55. I can not agree with that portion of the opinion which holds that such payments are to be deducted when paid.
MillikeN agrees with this dissent.