Potter Stewart

“ In the 1930's Edward Fabrice made an irrevocable transfer of certain property to trusts for the benefit of his wife and daughters. Twelve years later he died. Because of the provisions of § 811 (c) (1) (B) (ii) of the Internal Revenue Code of 1939, [1] the value of the property Fabrice had irrevocably transferred was nonetheless included in his gross estate for estate tax purposes. The respondents do not question the correctness of that determination. ”

“ It is true, of course, that the accumulations represented the fruit derived from the property which was transferred but, even so, Congress did not make provision for including the fruit, it provided only for the property transferred. ”

“ By its terms the statutory provision applies only to property 'of which the decedent has at any time made a transfer.' Fabrice 'made a transfer' only of the original trust corpus. He never 'made a transfer' of the income which the corpus thereafter produced, whether accumulated or not. [2] I can put the matter no more clearly than did the Court of Appeals for the Seventh Circuit in Commissioner of Internal Revenue v. ”