State Tax Commissioner v. Stephenson

WOLCOTT, Chief Justice.

This is an appeal from a judgment of the Superior Court affirming a ruling of the State Tax Board overruling an assessment by the State Tax Commissioner of a deficiency in income taxes for the year 1965. The opinion of the Superior Court appears at Del.Super., 267 A.2d 464, to which reference is made for a full statement of the facts.

The basic question before us is the soundness of Commissioner v. Wilmington Trust Company, Executor of Echols, Del. Super., 266 A.2d 419 (1968), and whether or not, if it is upheld, it applies to a trust of the type involved here and to…