Powers v. CommissionerAnnotate this Case
312 U.S. 259 (1941)
U.S. Supreme Court
Powers v. Commissioner, 312 U.S. 259 (1941)
Powers v. Commissioner
Argued January 7, 1941
Decided February 3, 1941
312 U.S. 259
Determination of the criterion of "value" for the purposes of the gift tax under the Revenue Act of 1932 is a question of law, and a decision of the Board of Tax Appeals that, in the case of single premium policies of life insurance, irrevocably assigned as gifts shortly after issuance, the value of the gifts was the cash surrender value of the policies, was properly reversed by the Circuit Court of Appeals as "not in accordance with law." Guggenheim v. Rasquin, ante, p. 312 U. S. 254. P. 312 U. S. 260.
115 F.2d 209 affirmed.
Certiorari, 311 U.S. 640, to review the reversal of a decision of the Board of Tax Appeals setting aside a determination of a deficiency in a gift tax.
Official Supreme Court caselaw is only found in the print version of the United States Reports. Justia caselaw is provided for general informational purposes only, and may not reflect current legal developments, verdicts or settlements. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or information linked to from this site. Please check official sources.