¶1concurring: I agree with the ultimate conclusions of the Court in this case, but I am not convinced by the attempt to distinguish Legallet. Of course, the evidence in the two cases is different, but in my view, the inferences to be drawn from the evidence are not significantly different. However, since the Court today does draw different inferences, its decision does in effect overrule Legallet, and I would say so.
50 T.C. 43
Mushro v. Commissioner
Decided April 15, 1968
United States Tax Court · decided 1968-04-15
The three partners of a partnership had a buy-sell agreement to take effect upon the death of the first to die. Held: When the first partner died, the realities of the situation were that the surviving partners received the insurance proceeds from the policy on the deceased partner's life and then paid them to the deceased partner's wife in exchange for the interest in the partnership to which she was entitled because of her husband's death.
Cited by 2 later decisions — most recently September 1979
Good law ✅— No negative treatment on recordhow we know
Decisions will be entered under Rule 50 · Decided 1968-04-15
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