Newbury v. Commissioner
United States Board of Tax Appeals
A testamentary trustee, pursuant to authority vested in her by the will, erected a building on real estate acquired from the testator, and paid for it out of trust funds and borrowed money, and continuously reserved from the rentals sufficient amounts to establish a fund to replace in the corpus so much of such investment as is lost by depreciation.
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A testamentary trustee, pursuant to authority vested in her by the will, erected a building on real estate acquired from the testator, and paid for it out of trust funds and borrowed money, and continuously reserved from the rentals sufficient amounts to establish a fund to replace in the corpus so much of such investment as is lost by depreciation. The amounts so reserved should not be included in the distributable income of the beneficiaries where since the erection of the building they have acquisced in the action of the trustee and where the will required, or was at least susceptible of,…
1Opinion of the Court
MOLLIE NETCHER NEWBURY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
TOWNSEND NETCHER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
ETHEL NETCHER VAILLANT, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
MOLLIE NETCHER NEWBURY, TRUSTEE OF SEPARATE TRUST FUND FOR IRVING NETCHER UNDER THE WILL OF CHARLES NETCHER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
GLADYS OLIVER NETCHER, EXECUTRIX OF THE ESTATE OF CHARLES NETCHER, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Newbury v. Commissioner
Docket Nos. 38049-38053.
U…
2Cases cited1 opinion
- Newbury v. CommissionerUnited States Board of Tax Appeals · 1932