Walston v. Commissioner
United States Tax Court
1. Petitioner, the donee of a special power of appointment under the will of her father, executed the power in 1920, appointing her brother to receive the income of share C of a trust created by the will, reserving "the full power of modification, reservation, revocation and other or different appointments hereinafter from time to time [to] make and revoke, granted to me under the will of said testator."
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1. Petitioner, the donee of a special power of appointment under the will of her father, executed the power in 1920, appointing her brother to receive the income of share C of a trust created by the will, reserving "the full power of modification, reservation, revocation and other or different appointments hereinafter from time to time [to] make and revoke, granted to me under the will of said testator." Thereafter, and until September 24, 1938, the income of share C was paid by trustees to her brother. Held, the petitioner is not liable for gift tax on the income received by her brother from…
1Opinion of the Court
Florence E. Walston, Petitioner, v. Commissioner of Internal Revenue, Respondent
Walston v. Commissioner
Docket No. 4058
United States Tax Court
8 T.C. 72; 1947 U.S. Tax Ct. LEXIS 312;
January 21, 1947, Promulgated
Decision will be entered for the petitioner.
1. Petitioner, the donee of a special power of appointment under the will of her father, executed the power in 1920, appointing her brother to receive the income of share C of a trust created by the will, reserving "the full power of modification, reservation, revocation and other or different appointments hereinafter from time to time [to]…
Also in this document: Dissent.
2Cases cited15 opinions
- Blair v. CommissionerSupreme Court of the United States · 1937
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Burnet v. GuggenheimSupreme Court of the United States · 1933
- Jones v. CliftonSupreme Court of the United States · 1880
- In Re the Appraisal Under the Transfer Tax Act of a Certain Trust Fund Held by HarbeckNew York Court of Appeals · 1900
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