Helvering v. Coleman-Gilbert Associates
296 U.S. 369 (1935)

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U.S. Supreme Court

Helvering v. Coleman-Gilbert Associates, 296 U.S. 369 (1935)

Helvering v. Coleman-Gilbert Associates

Nos. 78 and 79

Argued November 21, 1935

Decided December 16, 1935

296 U.S. 369

Syllabus

1. A common enterprise, under a trust agreement, for the owning, operating, leasing, and selling of particular property conveyed to the trustees by its co owners, and of such other, similar property as it might acquire, and for distribution of net income among the trust beneficiaries, held taxable on income as an "association" under the Revenue Acts of 1926 and 1928. Morrissey v. Commissioner, ante p. 296 U. S. 344. P. 296 U. S. 372.

2. The parties are not at liberty to disclaim the purpose of the trust organization as revealed by the trust instrument. P. 296 U. S. 373.

76 F.2d 191 reversed.

Certiorari to review a judgment reversing a decision of the Board of Tax Appeals, 30 B.T.A. 1463, which sustained assessments of income taxes laid on a trust as an "association."

Page 296 U. S. 370

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