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SKOURAS v. COMMISSIONER

Docket No. 19506.

14 T.C. 523 (1950)

SPYROS P. SKOURAS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated March 31, 1950.

Attorney(s) appearing for the Case

Kenneth W. Moroney, Esq., for the petitioner.

Michael Waris, Jr., Esq., for the respondent.

The respondent determined deficiencies in gift tax of $1,896.27, $1,469.22, and $1,549.88 for 1944, 1945, and 1946, respectively. By an amended answer he has asked for increased deficiencies for 1945 and 1946. The only issue for determination is whether insurance premiums paid by the petitioner during the taxable years on certain policies of insurance on his life constituted gifts of present interests to his five children, or were...

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