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COMMISSIONER OF INTERNAL REVENUE v. MURPHY'S ESTATE

Nos. 12463-12468.

229 F.2d 569 (1956)

COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. ESTATE of Fred T. MURPHY, Deceased, Detroit Trust Company and Edward S. Reid, Jr., Executors, and Mary E. Murphy, surviving wife, Respondents. COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. Mary E. MURPHY, Respondent. COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. Frederick M. ALGER, Jr., and Suzette Dewey Alger, his wife, Respondents. COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. Frances Alger BOYER, Respondent. COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. Frederick M. ALGER, Jr., Respondent. COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. Harold R. BOYER and Frances Alger Boyer, his wife, Respondents.

United States Court of Appeals Sixth Circuit.

February 2, 1956.

Attorney(s) appearing for the Case

Joseph F. Goetten, Washington, D. C., H. Brian Holland, Ellis N. Slack, Robert N. Anderson, Washington, D. C., on the brief, for petitioner.

Berrien C. Eaton, Jr., Detroit, Mich., Edward S. Reid, Jr., Miller, Canfield, Paddock & Stone, Detroit, Mich., on the brief, for respondents.

Before SIMONS, Chief Judge, and ALLEN and MARTIN, Circuit Judges.

ALLEN, Circuit Judge.

The Commissioner urges that the Tax Court in deciding that his determinations of deficiencies were incorrect, improperly computed the basis for determining gain or loss on the Detroit Bankers stock received by certain residuary legatees of Frederick M. Alger, Sr., deceased. Under Section 113(a) (5) of the Internal Revenue Code of 1939, the Commissioner points out, the basis (Unadjusted) of property transmitted at death is the fair market value...

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