Camp v. Commissioner of Internal Revenue

MAGRUDER, Chief Judge.

Frederic E. Camp petitions for review of a decision of the Tax Court entered No-ember 7, 1950, holding that petitioner was deficient in his gift tax for the year 1937 in the amount of $55,737.08, and for the year 1943 in the amount of $1,839.99. Primarily, the issue relates to the year 1937; the Tax Court’s determination as to 1937 resulted in an upward revision of the figure for taxpayer’s net gifts for the years prior to 1943, and thus, as a mere matter of mathematical computation, in a determination of a deficiency in taxpayer’s gift tax liability for other gifts made…