American Trust Company, a Corporation v. James G. Smyth, Collector of Internal Revenue and United States of America

ORR, Circuit Judge.

Appellant, as trustee of a testamentary trust created by the will of Harry L. Tevis, paid a tax in the sum of $570,-957.86 on its fiduciary income for the trust for the year 1946. A claim for refund was seasonably filed and was thereafter disallowed by the Commissioner of Internal Revenue. This suit for refund followed. The trial court denied relief.

Tevis died on July 19, 1931, in Santa Clara County, California, where his will was duly probated and the trust in question created. The trust required the rents, issues and profits of the trust estate to be paid in equal shares…