Marbelite Corp. of America v. Commissioner
United States Board of Tax Appeals
1. The rule laid down in Burnet v. Logan,283 U.S. 404, is not applicable to an ordinary real estate subdivision trust in the absence of proof of exceptional facts. 2. Section 704(b) of the Revenue Act of 1928, permitting the taxation of the income of certain classes of trusts to the beneficiaries at the option of the trustee, is valid.
1Opinion of the Court
COMMISSIONER OF INTERNAL REVENUE, RESPONDENT., PETITIONER, v.
Marbelite Corp. of America v. Commissioner
Docket No. 50644.
United States Board of Tax Appeals
30 B.T.A. 1151; 1934 BTA LEXIS 1214;
July 10, 1934, Promulgated
1. The rule laid down in Burnet v. Logan,283 U.S. 404, is not applicable to an ordinary real estate subdivision trust in the absence of proof of exceptional facts.
2. Section 704(b) of the Revenue Act of 1928, permitting the taxation of the income of certain classes of trusts to the beneficiaries at the option of the trustee, is valid.
Frank Mergenthaler, Esq., for the petitioner.
Eld…
2Cases cited2 opinions
- Burnet v. LoganSupreme Court of the United States · 1931
- Marbelite Corp. of America v. CommissionerUnited States Board of Tax Appeals · 1934