Bromley v. Commissioner
United States Board of Tax Appeals
Each of the petitioners created a trust in which his children were beneficiaries and in which the grantor and the other petitioners were trustees. Power was reserved to revest the corpus in the grantor upon the concurrence of all four trustees.
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Each of the petitioners created a trust in which his children were beneficiaries and in which the grantor and the other petitioners were trustees. Power was reserved to revest the corpus in the grantor upon the concurrence of all four trustees. Held that the income from the trusts was taxable to petitioners under section 219(g), Revenue Acts of 1924 and 1926, and section 166, Revenue Act of 1928, following Emma Louise Smith,23 B.T.A. 631 (reversed by Circuit Court on a ground which is not present in these proceedings).
1Opinion of the Court
JOSEPH H. BROMLEY, JR., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
CHARLES S. BROMLEY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
HENRY S. BROMLEY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
JOHN BROMLEY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Bromley v. Commissioner
Docket Nos. 42400, 42401, 45291, 45293, 45294, 53749, 53750, 53765, 53877, 57523, 57524, 54535, 57768.
United States Board of Tax Appeals
26 B.T.A. 878; 1932 BTA LEXIS 1234;
August 18, 1932, Promulgated
Each of the petitioners created a trust in which his children…
2Cases cited2 opinions
- Bromley v. CommissionerUnited States Board of Tax Appeals · 1932
- Smith v. CommissionerUnited States Board of Tax Appeals · 1931