Willits v. Commissioner

OPINION

Raum, Judge:

The principal question for decision is whether petitioner is chargeable (a) in 1960 with Ms share of the terminal corpus commissions from the Strawbridge Trust allocated to him during that year and (fo) in 1961 with Ms share of the corpus commissions allocated to Mm during that year in respect of the four remaining Dor-rance Trusts. The Government’s position is .that he “constructively received” such commissions in those years.

The theory of constructive receipt is one of long standing, .and regulations embodying that concept have had judicial approval as far back as Loose…