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FISCHER v. C. I. R.

No. 13312.

288 F.2d 574 (1961)

George FISCHER, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Third Circuit.

Decided April 13, 1961.

Attorney(s) appearing for the Case

Meyer Sugarman, Passaic, N. J. (Carl F. Nitto, Passaic, N. J., on the brief), for petitioner.

Michael I. Smith, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson, Melva M. Graney, Attorneys, Department of Justice, Washington, D. C., on the brief), for respondent.

Before BIGGS, Chief Judge, and GOODRICH, Circuit Judge, and FORMAN, Senior Circuit Judge.

FORMAN, Senior Circuit Judge.

The sole issue raised on this appeal is whether gifts in trust made by petitioner, George Fischer, were gifts of a present interest which will support a claim for three annual statutory exclusions of $3,000 each under § 1003(b) (3) of the Internal Revenue Code of 1939, 26 U.S.C.A. § 1003(b) (3). The Tax Court rejected the claimed exclusions.

The material facts as stipulated by the parties and as found by the Tax Court...

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