...expenses of its administration and is subject to distribution as part of his estate; . . . " Sec. 303. For the purpose of the tax the value of the net estate...of a resident, by deducting from the value of the gross estate — . . . "(b) In the case of a nonresident, by deducting from the value of that part...

...the amount receivable by the executor as insurance under policies taken out by the decedent upon his own life ; and to the extent of the excess over $40,000...beneficiaries as insurance under policies taken out Z>i/ the decedent upon bis own life. [Italics supplied.] The total proceeds here involved, $176,851.13,...

...the amount receivable by the executor as insurance under policies taken out by the decedent upon his own life; and to the extent of the excess over $40,000...policies taken out by the decedent upon his own life." The Revenue Acts of 1918, 1921 and 1924 contain similar provisions relative to "policies taken out...

...the amount receivable by the executor as insurance under policies taken out by the decedent upon his own life; and to the extent of the excess over $40,000...policies taken out by the decedent upon his own life." The Revenue Acts of 1918, 1921 and 1924 contain similar provisions relative to "policies taken out...

...the amount receivable by the executor as insi-rance under policies taken out by the decedent upon his own life; and to the extent of the excess over $40,000...insurance under policies taken out by the decedent iqwn his own life. (h) PRIOR INTERESTS. — Except as otherwise specifically provided therein, subsections...

...St. Louis Chapter, AIB 696 TRUST COMPANIES TEXT OF DECISION IN FRICK CASE (Continued from page 608) of the excess over $40,000 of the amount receivable...policies taken out by the decedent upon his own life." These last words are the ground of the Collector's claim. By S40S; 40 Stat. 1100, "If any part of the...

...receivable by the executor as insurance under policies taken out by the decedent upon his own life; and (9) the amount receivable by all other beneficiaries as...policies taken out by the decedent upon his own life, but only to the extent that such amount is required to be included in the gross estate under the provisions...

...the amount receivable by the executor as insurance under policies taken out by the decedent upon his own life; and to the extent of the excess over $40,000...policies taken out by the decedent upon his own life. * * * 80.25 Taxable insurance. The statute provides for the inclusion in the gross estate of insurance...

...legacies, including the trustee to whom testator had bequeathed the 1 SEC. SOS. For the purpose of tlie tax the value of the net estate shall be determined...of a resident, by deducting from the value of the gross estate — **•*••* (3) The amount of all bequests, legacies, devises, or transfers, to...

...the court may make such order in relation to the children, property, parties, and the main' SEC. 303. For the purpose of the tax the value of the net estate shall be determined — (a) ID the case of a citizen or resident of the United States, by deducting from the value of the gross...