Commissioner of Internal Revenue v. Washer

SIMONS, Circuit Judge.

This review involves a deficiency in the estate tax of the decedent determined by the Commissioner but set aside by the Board of Tax Appeals, and raises the question whether the proceeds of insurance policies on the life of the decedent,' after deduction of the statutory $40,000 exemption, are includible in the gross estate under § 302(g) and (d) of the Revenue Act of 1926 as amended, 26 U.S.C.A. Int.Rev. Acts, page 228 et seq.

The facts are stipulated and as to them there is no controversy. The decedent, a resident of Kentucky, died February 5, 1935. At various times he…