Audigier v. Commissioner
United States Tax Court
Previous to their marriage, petitioner's late husband conveyed certain business property to the University of Tennessee, reserving to himself a life interest, together with the right to "* * * make * * * leases thereon for any term * * *." After the marriage, the university acceded to the husband's request to pay over to petitioner for life, in case she survived him, one-half of the net income from the property.
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Previous to their marriage, petitioner's late husband conveyed certain business property to the University of Tennessee, reserving to himself a life interest, together with the right to "* * * make * * * leases thereon for any term * * *." After the marriage, the university acceded to the husband's request to pay over to petitioner for life, in case she survived him, one-half of the net income from the property. Later petitioner, her husband, and the university, as lessors, and a Tennessee corporation, as lessee, executed a 99-year lease of the property, in which, inter alia, the university…
1Opinion of the Court
OPINION.
Van Fossan, Judge:
Petitioner contends that the monthly payments received by her from the University of Tennessee during the years 1945, 1947, and 1948 were gifts from the university and therefore excludible from her gross income under section 22 (b) (3), Internal Revenue Code.1
Respondent denies that the payments were gifts and further contends that even if they were gifts they were gifts of “income from property” within the purview of the second and third sentences of section 22 (b) (3) and hence not to be excluded from gross income.
It is settled law that a gift is a voluntary…
2Cases cited12 opinions
- Bogardus v. CommissionerSupreme Court of the United States · 1937
- Noel v. ParrottCourt of Appeals for the Fourth Circuit · 1926
- Bass v. HawleyCourt of Appeals for the Fifth Circuit · 1933
- Title Guaranty & Trust Co. v. BushnellTennessee Supreme Court · 1920
- Weagant v. BowersCourt of Appeals for the Second Circuit · 1932
7 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Southern Pacific Transp. Co. v. CommissionerUnited States Tax Court · 1980
- Audigier v. CommissionerUnited States Tax Court · 1954
- Southern Pacific Transp. Co. v. CommissionerUnited States Tax Court · 1980