Archbold v. Commissioner
United States Board of Tax Appeals
1. GIFT TAX - GIFT. - The promise of an individual to make transfers of $10,000 annually for a period of years does not constitute a present gift taxable under section 501 et seq. of the Revenue Act of 1932. 2. GIFT TAX - CONSIDERATION. - Surrender of dower rights by a prospective bride is not shown to have been full and adequate consideration in money or money's worth for the amount transferred by the prospective groom.
1Opinion of the Court
JOHN D. ARCHBOLD, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Archbold v. Commissioner
Docket No. 97142.
United States Board of Tax Appeals
42 B.T.A. 453; 1940 BTA LEXIS 1003;
July 31, 1940, Promulgated
1. GIFT TAX - GIFT. - The promise of an individual to make transfers of $10,000 annually for a period of years does not constitute a present gift taxable under section 501 et seq. of the Revenue Act of 1932.
2. GIFT TAX - CONSIDERATION. - Surrender of dower rights by a prospective bride is not shown to have been full and adequate consideration in money or money's worth for the amount…
2Cases cited8 opinions
- United States v. Jefferson Electric Manufacturing Co.Supreme Court of the United States · 1934
- Gannon v. . McGuireNew York Court of Appeals · 1899
- Richardson v. CommissionerUnited States Board of Tax Appeals · 1939
- Snavely v. HendersonCourt of Appeals for the Eighth Circuit · 1913
- Estate of Dodge v. CommissionerUnited States Board of Tax Appeals · 1928
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