Chick v. Commissioner of Internal Revenue

WOODBURY, Circuit Judge.

This consolidated petition for review of two decisions of the Tax Court of the United States presents a single question. It is whether throughout the calendar year 1940 the estate of the petitioners’ father, Isaac W. Chick, was in the process of “administration or settlement” within the meaning of § 161(a) (3) 1 of the Internal Revenue Code, 26 U.S.C.A. Int.Rev.Code, § 161(a) (3), and the Regulations promulgated thereunder 2 and therefore constituted a taxable entity for income tax purposes during that year. The facts are not in dispute and for present purposes may be…