State Revenue Commission v. Columbus Bank & Trust Co.

Columbus Bank & Trust Company, as executor of the will of Elizabeth Swift Shorter, filed as a fiduciary an income-tax return under the act of 1931, in which it deducted from the net income of the estate the $1500 exemption allowed by the act to resident individual single persons. After the State revenue commission disallowed this claim, it issued a tax execution for a deficiency tax on the amount covered by this item. The sole question, under the affidavit of illegality filed by the company, is whether it was entitled as fiduciary to claim this individual exemption. The trial court sustained…