Estate of White v. Commissioner

*530OPINION.

Van Fossan:

The petitioners contend that the income in question, $72,290.57, being that part of the total sum of $108,369.88 received by them during 1936 as interest and dividends on securities delivered to the trustees, and returned by the latter for taxation as income, belonged to the trustees and that the executors were legally obligated *531to pay over such income to the trustees under section 162 (c) of the Revenue Act of 1936.1

The respondent’s position is that the income does not meet the requirements of section 162 (c). He argues that there was no proper distribution of the income…