PRINCE TRUST v. COMMISSIONER

Docket No. 67026.

35 T.C. 974 (1961)

FREDERICK H. PRINCE TRUST, WILLIAM WOOD PRINCE AND JAMES F. DONOVAN, TRUSTEES, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed March 23, 1961.


Attorney(s) appearing for the Case

Dana M. Swan, Esq., for the petitioner.

J. Frost Walker, Jr., Esq., for the respondent.


OPINION.

MULRONEY, Judge:

The respondent determined deficiencies in petitioner's income tax, as follows:

Year                                  Deficiency

1952 ------------------------------   $2,844.49
1953 ------------------------------    3,381.61
1954 ------------------------------    2,919.72

Amounts of $4,302.23, $4,391.70, and $4,728.01 were expended by trustees in 1952, 1953, and 1954, respectively...

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