Case Name: Munsey Trust Co., Trustee for Hilda Portner Derby, Petitioner, v. Commissioner of Internal Revenue, Respondent
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1929-10-15
Citations: 17 B.T.A. 927
Docket Number: Docket No. 27766
Parties: Munsey Trust Co., Trustee for Hilda Portner Derby, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: 
Reporter: Reports of the United States Board of Tax Appeals
Volume: 17
Pages: 927–928

Head Matter:
Munsey Trust Co., Trustee for Hilda Portner Derby, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket No. 27766.
Promulgated October 15, 1929.
G. B. Fraser, Esq., and A. Harding Paul, Esq., for the petitioner.
Arthur Garnduff, Esq., for the respondent.

Opinion:
OPINION.
Murdock :
It was conceded by counsel for the respondent that the tax liability of the petitioner, if any, attached by virtue of a trust agreement dated May 17, 1923. The real estate on Vermont Avenue and the Carry Manufacturing Co. note were not covered by this agreement and the petitioner further proved that it had never received anything from the sale of the property or from the note. There was also some testimony tending to show that the two transactions in question had occurred prior to the time that the Munsey Trust Co. became trustee and that the proceeds of the sale of the real estate were distributed before the Munsey Trust Co. became trustee.
Judgment will be entered for the 'petitioner under Rule 50.