LANGFORD INV. CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 7422.

77 F.2d 468 (1935)

LANGFORD INV. CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fifth Circuit.

April 24, 1935.


Attorney(s) appearing for the Case

Harry C. Weeks, of Wichita Falls, Tex., for petitioner.

Frank J. Wideman, Asst. Atty. Gen., Jos. M. Jones, Sewall Key, J. Louis Monarch, and John MacC. Hudson, Sp. Assts. to Atty. Gen., and Robert H. Jackson, Asst. Gen. Counsel, Bureau of Internal Revenue, and Shelby S. Faulkner, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for respondent.

Before BRYAN, SIBLEY, and WALKER, Circuit Judges.


WALKER, Circuit Judge.

This case involves deficiency income tax assessments for the years 1924, 1925, 1926, 1928, and 1929, made against the petitioner, the successor trustee under an instrument executed by P. P. Langford and his wife on November 6, 1920. By that instrument, as appears therefrom, the grantors, "for and in consideration of the sum of ten dollars to us cash in hand paid by" the grantee, "and for the love and affection we bear to our children," conveyed...

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