United States Board of Tax Appeals April 5, 1939, Docket Nos. 91451, 91452, 91453, 92621 (Golden v. Commissioner)

*682OPINION.

Hill:

The petitioners plead the benefits of subdivision (b) (1) of section 22 of the Revenue Act of 1934, which excludes from a taxpayer’s gross income amounts received under a life insurance contract paid by reason of the death of the insured. They claim that the payments here in dispute were amounts received by these recipients within such exemption provisions.