Commissioner v. Alldi's Estate

HICKS, Circuit Judge.

Petition to review a decision of the Board of Tax Appeals that respondent, as the administratrix of the estate of Frederick L. Alldis, had overpaid the income tax due from said estate for the year 1938 in the sum of $4,377.04. The facts are undisputed. They are briefly as follows:

At the time of his death on January 27, 1938, Frederick L. Alldis owned one hundred shares of beneficial interest in the Chrysler Management Trust. His administratrix, respondent here, pursuant to the terms of the Trust, sold these shares to the Chrysler Corporation for $56,472.20, which amount…