Rasquin v. Humphreys, 308 U.S. 54 (1939)

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Rasquin v. Humphreys


No. 37


Argued October 19, 1939
Decided November 6, 1939
308 U.S. 54

CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE SECOND CIRCUIT

Syllabus

1. A gift in trust reserving power in the donor to change the beneficiaries other than himself is incomplete and not subject to be taxed as a gift under the Revenue Act of 1932. Sanford v. Commissioner, ante, p. 39, followed. P. 55.

2. Article III of Treasury Regulation 79 (1933 ed.), under the Revenue Act of 1932, affords no basis for modification of the above construction of the statute, and the amendment of the regulation in 1936 is so plainly in conflict with the statute as to preclude its application retroactively. Id.

101 F.2d 1012 affirmed.

Certiorari, 307 U.S. 619, to review the affirmance of a judgment recovered from the Collector in an action to recover money collected as a gift tax.