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SIMPKINSON v. COMMISSIONER OF INTERNAL REVENUE

No. 8298.

89 F.2d 397 (1937)

SIMPKINSON v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fifth Circuit.

April 12, 1937.

Attorney(s) appearing for the Case

George G. Tyler, of New York City, and Richard H. Wilmer, of Washington, D. C., for petitioner.

S. Dee Hanson, John J. Pringle, Jr., J. Louis Monarch, and Sewall Key, Sp. Assts. to the Atty. Gen., and Robert H. Jackson and James W. Morris, Asst. Attys. Gen., Morrison Shafroth, Chief Counsel, Bureau of Internal Revenue, and William E. Davis, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for respondent.

Before FOSTER, SIBLEY, and HUTCHESON, Circuit Judges.

SIBLEY, Circuit Judge.

The single question is whether $40,000 paid to Robert M. Kerr, by Unopco Corporation in January, 1931, was a nontaxable gift or taxable as income. The Revenue Act of 1928, § 22, 45 Stat. 797 (26 U.S.C.A. § 22 and note), declares: "`Gross income' includes * * * income derived from * * * compensation for personal service, of whatever kind and in whatever form paid." To be excluded is "the value of property acquired by gift," etc. The...

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