Greenough v. Commissioner of Internal Revenue

WILSON, Circuit Judge.

This is a petition fox review of a decision of the Board of Tax Appeals and involves the application of section 219 (h) of the 1926 Revenue Act (26 USCA § 960 note) and section 167 of the 1928 Revenue Act (26 USCA § 2167). The years involved are 1927, 1928, and 1929.

The provisions of the above sections are alike in their pertinent provisions and are as follows:

“Where any part of the income of a trust may, in the discretion of the grantor of the trust, either alone or in conjunction with any person not a beneficiary of the trust, be distributed to the grantor or be held…