Milbank v. Commissioner
United States Board of Tax Appeals
Petitioner created a trust in favor of his wife for his life, and two short term trusts naming his sister-in-law and uncle as respective beneficiaries. Held, petitioner is not taxable on the income from these trusts under section 166 of the Revenue Act of 1934, Meredith Wood,37 B.T.A. 1065; affd., 309 U.S. 344; held, further, that the trusts were substantial and not within the scope of Helvering v. Clifford,309 U.S. 331.
1Opinion of the Court
DUNLEVY MILBANK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Milbank v. Commissioner
Docket No. 93050.
United States Board of Tax Appeals
41 B.T.A. 1014; 1940 BTA LEXIS 1111;
May 1, 1940, Promulgated
Petitioner created a trust in favor of his wife for his life, and two short term trusts naming his sister-in-law and uncle as respective beneficiaries. Held, petitioner is not taxable on the income from these trusts under section 166 of the Revenue Act of 1934, Meredith Wood,37 B.T.A. 1065; affd., 309 U.S. 344; held, further, that the trusts were substantial and not within the scope of…
2Cases cited4 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. WoodSupreme Court of the United States · 1940
- Wood v. CommissionerUnited States Board of Tax Appeals · 1938
- Milbank v. CommissionerUnited States Board of Tax Appeals · 1940