Court of Appeals for the Fifth Circuit November 3, 1950, 13230_1 (Peoples Finance & Thrift Co. v. Commissioner of Internal Revenue)

PER CURIAM.

We are of opinion the Tax Court correctly held that the amounts received by petitioner under certain health and accident insurance policies transferred to it for value constitute taxable income, and that they do not come within the purview of the exemption contained in Section 22 (b) (5) of the Internal Revenue Code, Title 26 U.S.C.A. § 22(b) (5).