Helvering v. Hallock

There is certainly a distinction in fact between the transaction considered in Klein v. United States, 283 U. S. 231, and those under review in Helvering v. St. Louis Union Trust Co., 296 U. S. 39, and Becker v. St. Louis Uniont Trust Co., 296 U. S. 48. The courts, the Board of Tax Appeals, and the Treasury have found no difficulty in observing the distinction in specific cases. I believe it is one of substance, not merely of terminology, and not dependent on the niceties of conveyancing or recondite doctrines of ancient property law.

But if I am wrong in this, I still think the judgments in…