Commissioner of Internal Revenue v. Behan

CHASE, Circuit Judge.

These two petitions for the review of decisions by -the Board of Tax Appeals were argued together as they raise the same questions and may be considered in one opinion. They both concern deficiencies in income taxes for the calendar year 1931 which were determined by the Commissioner and disallowed upon review by the Board.

The essential facts were stipulated before the Board, and are that the respondents during the taxable period involved were husband and wife, each owning a separate estate of substantial proportions, consisting in part of stocks and bonds; each keeping…