Helvering v. Combs
296 U.S. 365 (1935)

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U.S. Supreme Court

Helvering v. Combs, 296 U.S. 365 (1935)

Helvering v. Combs

No. 238

Argued November 22, 1935

Decided December 16, 1935

296 U.S. 365

Syllabus

A common enterprise, under a trust instrument, for acquisition of an oil lease, drilling and operation of an oil well, sale of the products, sale of the well, and distribution of income among the beneficiaries held taxable on income as an "association" under the Revenue Act of 1926, upon the authority of Morrissey v. Commissioner, ante, p. 296 U. S. 344. P. 296 U. S. 368.

76 F.2d 682 reversed.

Page 296 U. S. 366

Certiorari to review a judgment affirming a decision of the Board of Tax Appeals which overruled an assessment of income taxes laid on a trust as an "association."

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