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PRESTON'S ESTATE v. COMMISSIONER OF INTERNAL REVENUE

No. 115, Docket 21748.

187 F.2d 531 (1951)

PRESTON'S ESTATE v. COMMISSIONER OF INTERNAL REVENUE.

United States Court of Appeals Second Circuit.

Decided March 6, 1951.

Attorney(s) appearing for the Case

Polikoff & Clareman, New York City (Benet Polikoff, Jack Clareman, New York City, of counsel), for petitioner.

Charles Oliphant, Washington, D. C., Theron Lamar Caudle, Asst. Atty. Gen., Ellis N. Slack, Lee A. Jackson, I. Henry Kutz, Special Assts. to the Atty. Gen., for respondent.

Before CHASE, CLARK and FRANK, Circuit Judges.

PER CURIAM.

The question here presented is whether the trust which we held valid in Preston v. Commissioner of Internal Revenue, 2 Cir., 132 F.2d 763 was revocable by the grantor. We then held that the grantor, Preston, could take deductions on his income tax return for the interest he paid on his personal bond under seal which became the corpus of the trust. His obligation to pay such interest had been established by the decision...

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