Kraft v. Commissioner
United States Board of Tax Appeals
A trust indenture executed in 1930 provided that settlor could, by an instrument in writing executed and served upon the trustees at least five days prior to expiration of any calendar year, revoke the trust after the end of such year. No further instrument of revocation was provided, nor notice required. Settlor was not a trustee.
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A trust indenture executed in 1930 provided that settlor could, by an instrument in writing executed and served upon the trustees at least five days prior to expiration of any calendar year, revoke the trust after the end of such year. No further instrument of revocation was provided, nor notice required. Settlor was not a trustee. Held, that section 166, Revenue Act of 1934, is applicable, without violating constitutional rights of petitioner, and respondent did not err in including the income of the trust in computing net income of the settlor for the calendar year 1934.
1Opinion of the Court
KATHERINE KRAFT, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Kraft v. Commissioner
Docket No. 89426.
United States Board of Tax Appeals
40 B.T.A. 240; 1939 BTA LEXIS 877;
July 18, 1939, Promulgated
A trust indenture executed in 1930 provided that settlor could, by an instrument in writing executed and served upon the trustees at least five days prior to expiration of any calendar year, revoke the trust after the end of such year. No further instrument of revocation was provided, nor notice required. Settlor was not a trustee. Held, that section 166, Revenue Act of 1934, is…
2Cases cited5 opinions
- Corliss v. BowersSupreme Court of the United States · 1930
- Burnet v. WellsSupreme Court of the United States · 1933
- Reinecke v. SmithSupreme Court of the United States · 1933
- Corning v. CommissionerUnited States Board of Tax Appeals · 1937
- Kraft v. CommissionerUnited States Board of Tax Appeals · 1939