...not include the following items, which shall be exempt from taxation under this title: »»•*•*» (3) The value of property acquired by gift, bequest,...from such property shall be Included in gross income) ; * * *. Under these provisions so much of the sale price of the stock as represents its value when...

...income ' does not include the following items, which shall be exonpt from taxation under this title: ... (3) The value of property acquired by gift, bequest,...such property shall be included in gross income)." Similar provisions have occurred in the earlier revenue acts. irrespective of any attempt at tax evasion....

...health insurance. The amount received by the insured as a return of premium or premium paid by him under life insurance, endowment, or annuity contracts,...maturity of the term mentioned in the contract or under surrender of the contract is exempted from taxation under the provisions of the Federal law....

...policies by exempting the amount received by the insured as a return of premiums paid by him on life, endowment, or annuity contracts, either during the term or at the maturity of the contract or at the surrender of the same. Observe that the amount received by the insured in excess...

...: • • • "2. The amount received by the insured as a return of premium or premiums paid by him under life insurance, endowment, or annuity contracts,...the contract, or upon surrender of the contract." Article 72 (b) of Regulation 45 (1920 Edition) provides: "During his life only so much of the amount...

...title: • • • "2. The amount received by the insured as a return of premium or premiums paid by him under life insurance, endowment, or annuity contracts,...the contract, or upon surrender of the contract." Article 72 (b) of Regulation 45 (1920 Edition) provides: "During his life only so much of the amount...

...the insured; "(2) The amount received by the insured as a return of premium or premiums paid by him under life insurance, endowment, or annuity contracts,...mentioned in the contract or upon surrender of the eontract » • • " Сотр. St. § бЗЗбУа«. Regulations 45 (1920 Edition) provide in article...

...not include the following items, which shall be exempt from taxation under this title: • *****• (3) The value of property acquired by gift, bequest, devise, or descent (but the income from snch property shall be Included in gross income). Petitioner admits that an executrix is accountable...

...the insured. (b) The amount received by the insured as a return of premium or premiums paid by him under life insurance, endowment or annuity contracts, either during the term or at the maturity of term mentioned in the contract, or at the surrender of the contract. (c) The value of property acquired...

...include .... (2) -The amount received by the insured as a return of premium or premiums paid by him under life insurance, endowment, or annuity contracts,...in the contract or upon surrender of the contract; 1 Dividends received on life insurance policies that have not matured, whether such dividends are drawn...