Mitchell v. Commissioner
United States Board of Tax Appeals
1. The word "mutual" used in a postnuptial contract which provided that each spouse should own a certain share of mutual property and income, constructed to cover only property which was joint or common and not to include the earnings of either spouse from an employment that was not joint or common. 2. The stock of the corporation was purchased by a husband in his own name with money arising from a joint bank account and with the proceeds of bonds, in both of which the wife…
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1. The word "mutual" used in a postnuptial contract which provided that each spouse should own a certain share of mutual property and income, constructed to cover only property which was joint or common and not to include the earnings of either spouse from an employment that was not joint or common. 2. The stock of the corporation was purchased by a husband in his own name with money arising from a joint bank account and with the proceeds of bonds, in both of which the wife had an interest. Held, the wife had a joint equitable interest in the stock.
1Opinion of the Court
L. C. MITCHELL, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Mitchell v. Commissioner
Docket No. 41610.
United States Board of Tax Appeals
28 B.T.A. 767; 1933 BTA LEXIS 1073;
July 27, 1933, Promulgated
1. The word "mutual" used in a postnuptial contract which provided that each spouse should own a certain share of mutual property and income, constructed to cover only property which was joint or common and not to include the earnings of either spouse from an employment that was not joint or common.
2. The stock of the corporation was purchased by a husband in his own name with money…
2Cases cited1 opinion
- Mitchell v. CommissionerUnited States Board of Tax Appeals · 1933