Overton v. Commissioner of Internal Revenue

SWAN, Circuit Judge.

These appeals involve gift tax liability of petitioner Overton for the years 1936 and 1937 and income tax liability of petitioner Oliphant for the year 1941. Each petitioner was held liable on the theory that dividends received by his wife in the year in question on stock registered in her name on the books of Castle & Overton, Inc., a New York corporation, were income of the husband for tax purposes. No gift tax return with respect to such dividends was -filed by Mr. Overton in 1936 or 1937, and the dividends received by Mrs. Oli-phant in 1941 were not included in her…