SIMONS, Circuit Judge.
The question to be decided is whether the income for 1934 of two trusts created by the petitioner in a previous year and accumulated during the tax year, was taxable income of the petitioner in 1934 by reason of the provisions of §§ 166 and 167 of the Revenue Act of 1934, 26 U.S.C.A. §§ 166, 167. The Board of Tax Appeals in redetermining the deficiency asserted by the respondent held that it was.
The 1934 Act provides...
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