...within the net estate subject to estate tax and has accordingly determined a deficiency of $113,171.61. SEC. 403. That for the purpose of the tax the value of the net estate shall be determined — (3) The amount of nil bequests, legacies, devises, or transfers, except bnna fide sales for a fair...

...of the net estate, ascertained as directed by § 203, of every person dying thereafter. " Sec. 203. That for the purpose of the tax the value of the net...of a resident, by deducting from the value of the gross estate — "(1) Such amounts for funeral expenses, administration expenses, claims against the...

...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...

...herein. OPINION. SMITH : Section 303 of the Kevenue Act of 1926 provides in part as follows : SEC. 303. For the purpose of the tax the value of the net estate...of the gross estate — ******* (3) The amount of bequests * * * to a trustee or trustees * * * exclusively for * * * charitable purposes, * * • The...

...University is an educational institution and no profit enures to anyone from its operation. 1 "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 — "(1) Such amounts for funeral expenses, administration expenses, claims against the...

...University is an educational institution and no profit enures to anyone from its operation. 1 "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 — "(1) Such amounts for funeral expenses, administration expenses, claims against the...

...University is an educational institution and no profit enures to anyone from its operation. 1 "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 — "(1) Such amounts for funeral expenses, administration expenses, claims against the...

...his death of all property, real or personal, tangible or intangible, wherever situated." Section 203: "For the purpose of the tax the value of the net estate...of a resident, by deducting from the value of the gross estate (1) such amounts for funeral expenses, administration expenses, claims against the estate,...

...not be deemed a consideration "in money or money's worth", see section 812 (b). SEC. 812. NET ESTATE. For the purpose of the tax the value of the net estate shall be determined, in the case of a citizen or resident of the United States by deducting from the value of the gross...

...imposed by the Act ie, a tax "upon the transfer of the net estate" of the decedent. |400; '40 Stat. 1096. "For the purpose of the tax the value of the net estate shall be determined" by deducting certain allowances from the gross estate, t 403. By S 402 "the value of the gross estate...