BANKERS TRUST COMPANY v. UNITED STATES


190 F.Supp. 671 (1960)

BANKERS TRUST COMPANY and Leonard M. Wallstein as Executors of the Will of Charles Newman, deceased, Plaintiffs, v. UNITED STATES of America, Defendant.

United States District Court S. D. New York.

December 29, 1960.


Attorney(s) appearing for the Case

Wallstein, Menschel & Wallstein, New York City, for plaintiffs; Leonard M. Wallstein, Benjamin Menschel and Leonard M. Wallstein, Jr., New York City, of counsel.

S. Hazard Gillespie, Jr., U. S. Atty. for Southern Dist. of New York, New York City, for defendant; Lola S. Lea, Asst. U. S. Atty., New York City, of counsel.


PALMIERI, District Judge.

In this action brought by the executors of the estate of Charles Newman, a refund of a portion of the estate tax heretofore paid is sought upon the ground that the Commissioner erroneously disallowed a claimed deduction for the present value of a trust remainder to charity. Both sides have moved for summary judgment.

The Undisputed Historic Facts

Charles Newman died on October 26, 1950. During his lifetime he established...

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