FACTS: Petitioner sought review of a judgment, which denied his request for a refund of tax paid pursuant to §§ 219(g), 219(h) of the Revenue Act of 1924, 26 U.S.C.S. § 960, asserting that he should not have been taxed on trust created for the benefit of his wife and children. The court found that under the terms of the trust, petitioner reserved the power to abolish or change the trust at his will.
CONCLUSION: The judgment that denied petitioner's request for a tax refund was affirmed because when the grantor of a trust had the power to re-vest in himself title to any part of the corpus of the trust, the income of such part of the trust for such taxable year was to be included in computing the net income of the grantor.
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