Boyt v. Commissioner of Internal Revenue. Boyt v. Commissioner of Internal Revenue

WOODROUGH, Circuit Judge.

Petitioners in these four companion cases are here on petition for review of an adverse decision of the Tax Court of the United States determining deficiencies in petitioners’ federal income tax returns .for the years 1942 and 1943. The cases were consolidated for hearing • in the Tax Court and on review to this court and will hereafter be referred to as a single case.

The only question presented on this appeal is the correctness of the decision of the Tax Court regarding the taxability of income to certain trusts, executed by petitioners as grantors, wherein…