DuPont v. Commissioner
289 U.S. 685 (1933)

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U.S. Supreme Court

DuPont v. Commissioner, 289 U.S. 685 (1933)

DuPont v. Commissioner of Internal Revenue

No. 791

Argued May 10, 1933

Decided May 29, 1933

289 U.S. 685

Syllabus

1. Section 219(h) of the Revenue Acts of 1924 and 1926, taxing incomes of trust funds as income of the settlor, when applied to payment of premiums on policies insuring his life for the benefit of the trust beneficiaries, held valid under Burnet v. Wells, ante p. 289 U. S. 670. P. 289 U. S. 687.

2. One who conveys securities in trust to keep up insurance on his life for the benefit of others, but reserves the right to retake the securities at the end of a stated period if he survives, retains such an interest in the securities, apart from his interest in having the premiums paid, that the income from the securities applied to the premiums during the trust period may constitutionally be taxed as his own. P. 289 U. S. 688.

63 F.2d 44 affirmed.

Certiorari to review a judgment which affirmed a decision, 20 B.T.A. 482, sustaining an assessment on income.

Page 289 U. S. 687

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