Lamont v. Commissioner
United States Board of Tax Appeals
Short term trusts examined, and upon the facts held that the trust income was not properly included in computing the net income of the settlor, under section 22(a), Revenue Act of 1934, but that, under section 167(a)(1), capital gains accumulated as corpus were properly included in computing petitioner's net income.
1Opinion of the Court
ELIZABETH K. LAMONT, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Lamont v. Commissioner
Docket No. 97407.
United States Board of Tax Appeals
43 B.T.A. 61; 1940 BTA LEXIS 852;
December 11, 1940, Promulgated
Short term trusts examined, and upon the facts held that the trust income was not properly included in computing the net income of the settlor, under section 22(a), Revenue Act of 1934, but that, under section 167(a)(1), capital gains accumulated as corpus were properly included in computing petitioner's net income.
Percy W. Crane, Esq., for the petitioner.
Leonard A. Spalding,…
2Cases cited7 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Lucas v. EarlSupreme Court of the United States · 1930
- Blair v. CommissionerSupreme Court of the United States · 1937
- Burnet v. LeiningerSupreme Court of the United States · 1932
- Wollman v. CommissionerUnited States Board of Tax Appeals · 1934
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