The respondent determined a gift tax deficiency against the petitioner for the calendar year 1939 in the amount of $510. The sole question before us is whether the petitioner is entitled to an exclusion of $4,000 under section 504 (b) of the Revenue Act of 1932, as amended by section 505 (a) of the Revenue Act of 1938, for a gift of stock made to one Lynne Frances.
FINDINGS OF FACT.
The petitioner filed a gift tax return for the calendar year 1939 with the...
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