The respondent determined a deficiency of $6,595.78 in the petitioner's income tax for the year 1941.
The major issue is whether or not the petitioner is taxable on the income from two trusts created by him on August 1, 1934, and July 10, 1935, under the provisions of section 22 (a) or section 167 of the Internal Revenue Code.
A collateral issue is whether or not the increment in value of certain United States savings bonds, series B, C, and D, held by the...
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