Estate of Richard C. Du Pont, Deceased, Wilmington Trust Company v. Commissioner of Internal Revenue

GOODRICH, Circuit Judge.

The present appeal is from a decision by the Tax Court of the United States deciding in favor of the Commissioner on two points raised by counsel for the taxpayer. 1952, 18 T.C. 1134. One of the questions is the valuation of certain life insurance policies owned by the decedent, Richard C. DuPont, on the life of his father. The other question involves an exemption from an additional estate tax imposed by section 935 of the Internal Revenue Code of 1939, 26 U.S.C.A. § 935, found in section 939 of the Internal Revenue Code. 26 U.S.C.A. § 939 (Supp. 1955). The last point…