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ESTATE OF SUMNER v. COMMISSIONER

Docket No. 5439-70.

59 T.C. 837 (1973)

ESTATE OF MOSE SUMNER, DECEASED, CITIZENS NATIONAL BANK AND TRUST COMPANY OF BAYTOWN, INDEPENDENT EXECUTOR, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed March 19, 1973.

Attorney(s) appearing for the Case

George A. Hrdlicka, for the petitioner.

Daniel A. Taylor, Jr., for the respondent.

SIMPSON, Judge:

The respondent determined a deficiency of $119,564.28 in the Federal estate tax of the Estate of Mose Sumner. Some of the issues have been settled, and the issues remaining for decision are: (1) Whether the fact that the trustee under a testamentary trust had certain discretionary powers with respect to the investment of property, the payment of enumerated obligations, and the allocation of receipts between income and principal caused the value...

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