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COMMISSIONER OF INTERNAL REVENUE v. LOWDEN

No. 7925.

131 F.2d 127 (1942)

COMMISSIONER OF INTERNAL REVENUE v. LOWDEN.

Circuit Court of Appeals, Seventh Circuit.

November 6, 1942.

Attorney(s) appearing for the Case

J. P. Wenchel, Bureau of Internal Revenue, of Washington, D. C., and Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key and Michael H. Cardozo, IV, Sp. Assts. to the Atty. Gen., for petitioner.

Brode B. Davis and Arthur M. Kracke, both of Chicago, Ill., for respondent.

Before EVANS, MINTON, Circuit Judges, and LINDLEY, District Judge.

LINDLEY, District Judge.

Petitioner seeks reversal of a decision of the Board of Tax Appeals that donations of respondent in trust were not gifts of future interests, but were of present vested character and therefore subject to the limited taxable exemption provided by Section 504 (b) of the Revenue Act of 1932, 26 U.S. C.A. Int.Rev.Acts, page 585, reading: "In the case of gifts (other than of future interests in property) made to any person by the donor during the...

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