COMMISSIONER OF INTERNAL REVENUE v. STOKES

No. 5448.

79 F.2d 256 (1935)

COMMISSIONER OF INTERNAL REVENUE v. STOKES.

Circuit Court of Appeals, Third Circuit.

July 31, 1935.


Attorney(s) appearing for the Case

Frank J. Wideman, Asst. Atty. Gen., and Sewall Key and Arnold Raum, Sp. Assts. to Atty. Gen., for petitioner.

Frederick H. Knight and Henry Gross, both of Philadelphia, Pa. (Morgan, Lewis & Bockius, of Philadelphia, Pa., of counsel), for respondent.

Before BUFFINGTON, WOOLLEY, and DAVIS, Circuit Judges.


DAVIS, Circuit Judge.

This case involves the income tax liabilities of the taxpayer, Francis J. Stokes, for the years 1929 and 1930.

In 1928, the taxpayer executed a trust agreement whereby he transferred certain securities to the trustee to use the income therefrom for the maintenance, education, and support of his several minor children. The agreement directed the trustee, as each child became twenty-one years of age, or died prior to that time, to transfer...

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