Morton v. Commissioner of Internal Revenue

EVANS, Circuit Judge.

The facts are fortunately not in serious dispute. They deal with three trusts created by the petitioner, and one executed by his father to which interest and dividend-bearing securities of large value were transferred. The controversy before us is over who has the obligation of paying the tax on the income received in 1933 from the income of these trust funds — the petitioner or petitioner’s father, his daughter, or his wife.

As will be later seen, the provisions of the trust agreements and the action of the grantors, and in one case where the petitioner was beneficiary,…