Brooks v. Welch

BREWSTER, District Judge.

The above actions to recover income taxes paid on 1934 income present identical issues. They were tried together, without jury, and will be considered in one opinion. The facts are stipulated and may serve as findings required by Rule 52 of Rules of Civil Procedure, 28 U.S.C.A. following section 723c. So far as material to the questions involved, the facts are these:

On March 1, 1912, Shepherd Brooks created a trust which, as amended, provided that the trustees should have authority to accumulate any part or all of their income, and that any income not accumulated…