Lasker v. Commissioner of Internal Revenue

MAJOR, Circuit Judge.

This matter is here on petition for review of a decision of the Tax Court of the United States, entered December 8, 1942, deciding that there was a deficiency in petitioner’s gift tax for the year 1938, in the amount of $51,123.66. (Other questions decided by the Tax Court are not in issue here.) The deficiency was predicated upon .the conclusion that payment by petitioner on December 21, 1938 to his then wife, Doris Kenyon Lasker, of the sum of $375,-000 was a gift, taxable as such under Secs. 501 and 503 of the Revenue Act of 1932. Internal Revenue Acts 1924 to Date,…