Smith v. Commissioner
United States Board of Tax Appeals
1. Held that there is no gift inter vivos where possession and control are retained by the alleged donor after the date of the alleged gift. 2. Held that the words "actually paid," as they are used in section 301(b) of the Revenue Act of 1926, mean actually paid in cash, or its equivalent, by the estate of the deceased.
1Opinion of the Court
EARL F. SMITH, ADMINISTRATOR, ESTATE OF JOHN WESLEY SMITH, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Smith v. Commissioner
Docket No. 39682.
United States Board of Tax Appeals
23 B.T.A. 278; 1931 BTA LEXIS 1901;
May 15, 1931, Promulgated
1. Held that there is no gift inter vivos where possession and control are retained by the alleged donor after the date of the alleged gift.
2. Held that the words "actually paid," as they are used in section 301(b) of the Revenue Act of 1926, mean actually paid in cash, or its equivalent, by the estate of the deceased.
J. Murray Chenoweth, Esq.,…
2Cases cited1 opinion
- Smith v. CommissionerUnited States Board of Tax Appeals · 1931