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COMMISSIONER OF INTERNAL REVENUE v. PROUTY

No. 3603.

115 F.2d 331 (1940)

COMMISSIONER OF INTERNAL REVENUE v. PROUTY.

Circuit Court of Appeals, First Circuit.

November 1, 1940.

Attorney(s) appearing for the Case

Loring W. Post, of Washington, D. C. (Samuel O. Clark, Jr., Sewall Key, and Joseph M. Jones, all of Washington, D. C., on the brief), for Commissioner of Internal Revenue.

Allison L. Newton, of Boston, Mass. (Douglas L. Ley, of Boston, Mass., on the brief), for Olive H. Prouty.

Before MAGRUDER and MAHONEY, Circuit Judges, and PETERS, District Judge.

MAGRUDER, Circuit Judge.

In 1923 Olive H. Prouty, the taxpayer herein, set up three trusts. Between 1923 and 1931 the grantor, by virtue of power reserved to her, made various amendments to the trust instruments. The Commissioner ruled that the gifts were not complete in 1931; that under Section 501 of the Revenue Act of 1932, 47 Stat. 245, as amended by Section 511 of the Revenue Act of 1934, 48 Stat. 758, 26 U.S.C.A. Int.Rev. Acts, pages 580, 769, gift taxes became...

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