Connor v. State

Appellant contends that the court erred in sustaining the assessment of a gift tax for the following reasons : (1) The transfer was made as security for a debt and not in payment thereof; (2) if it be found the transfer was absolute, the evidence does not sustain a finding of a dona-tive intent; (3) the value of the stock at the time of the transfer did not exceed the amount of the indebtedness; (4) the amount of the assessment is erroneous because interest on the indebtedness paid was not considered; and (5) under the emergency gift tax act in force at the time of the transfer (September 6,…