165 F.2d 992 | 3rd Cir. | 1948
This case presents the question of whether the Tax Court erred in upholding the Commissioner’s disallowance of a deduction from the gross income of a trust estate for the year 1940. The claimed deduction was proper only if the trust agreement required the trustees to distribute the income currently or such sums were actually “properly paid or credited during such year to [the beneficiaries].” Int.Rev. Code §§ 162(b), 162(c), 26 U.S.C.A. IntRev. Code, 162 (b, c); cf. Commissioner v. Stearns, 2 Cir., 1933, 65 F.2d 371, certiorari denied, 1933, 290 U.S. 670, 54 S.Ct. 90, 78 L.Ed. 579. In the light of the facts of the taxpayer’s
The decision of the Tax Court will be affirmed.