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COMMISSIONER OF INTERNAL REVENUE v. KEMPNER

No. 9905.

126 F.2d 853 (1942)

COMMISSIONER OF INTERNAL REVENUE v. KEMPNER.

Circuit Court of Appeals, Fifth Circuit.

March 20, 1942.

Attorney(s) appearing for the Case

Hubert L. Will, J. Louis Monarch, Sewall Key, and Michael H. Cardozo, IV., Sp. Assts. to Atty. Gen., Samuel O. Clark, Jr., Asst. Atty. Gen., and J. P. Wenchel, Chief Counsel, Bureau of Internal Revenue, and John W. Smith, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for petitioner.

R. I. Mehan, of Galveston, Tex., for respondent.

Before FOSTER, SIBLEY, and McCORD, Circuit Judges.

McCORD, Circuit Judge.

The petition for review involves gift tax for the years 1935 and 1936. The facts were stipulated, and in deciding the only question presented to it, the Board of Tax Appeals held that in computing the trust donor's gift tax liability for the years in question he should be allowed an exclusion not exceeding $5,000 for each beneficiary under § 504(b) of the Revenue Act of 1932, 47 Stat. 169, 26 U...

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