Harris v. Commissioner

Mr. Justice Frankfurter, joined by Mr. Justice Black, Mr. Justice Burton, and Mr. Justice Minton, dissenting.

Section 503 of the Revenue Act of 1932 imposes a gift tax on property “transferred for less than an adequate and full consideration in money or money’s worth.” 47 Stat. 247, now I. R. C., § 1002, 26 U. S. C. § 1002. In Merrill v. Fahs, 324 U. S. 308, the Court held that an antenuptial settlement is subject to this tax.1 Believing as I do that the disposition of the case before us largely depends on the weight given to the considerations which there prevailed, recapitulation of them is…