CLIFFORD v. HELVERING

No. 11431.

105 F.2d 586 (1939)

CLIFFORD v. HELVERING, Commissioner of Internal Revenue.

Circuit Court of Appeals, Eighth Circuit.

July 19, 1939.


Attorney(s) appearing for the Case

Thomas P. Helmey and F. H. Stinchfield, both of Minneapolis, Minn. (Stinchfield, Mackall, Crounse, McNally & Moore and William W. Watson, all of Minneapolis, Minn., on the brief), for petitioner.

S. Dee Hanson, Sp. Asst. to Atty. Gen. (Sewall Key, Sp. Asst. to Atty. Gen., and Mac Asbill, Sp. Asst. to Atty. Gen., on the brief), for respondent.

Before GARDNER and THOMAS, Circuit Judges, and WYMAN, District Judge.


GARDNER, Circuit Judge.

This is a petition to review a decision of the Board of Tax Appeals which sustained a redetermination by the Commissioner of individual income tax liability of petitioner, George B. Clifford, Jr., for 1934. The facts were stipulated, and hence are not in dispute. So far as here material, they are substantially as follows:

On June 20, 1934, petitioner executed a declaration of trust by which he acknowledged that he held certain securities...

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