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du PONT v. COMMISSIONER

Docket No. 101646.

2 T.C. 246 (1943)

HENRY F. du PONT, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated June 25, 1943.

Attorney(s) appearing for the Case

Beverly R. Robinson, Esq., Weston Vernon, Jr., Esq., and J. R. Fillman, Esq., for the petitioner.

L. W. Creason, Esq., for the respondent.

By this proceeding petitioner challenges deficiency in gift tax for the year 1939 in the amount of $1,423,821.67.

The questions presented are whether the relinquishment in the taxable year by petitioner of his right and power under a certain trust agreement constituted a taxable gift; and if such was the case what was the value of that gift.

FINDINGS OF FACT.

All of the facts stipulated are hereby found. Those facts hereinafter appearing which are...

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