T.C. Memo. 1996-423
UNITED STATES TAX COURT
NATIONAL INDUSTRIAL INVESTORS, INC., Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent*
Docket No. 24863-93. Filed September 18, 1996.
P, a California corporation, substantially
prevailed in a Tax Court case involving the deduction
of business expenses, interest, depreciation, and net
operating loss carryovers. P then moved for an award
of reasonable administrative and litigation costs
pursuant to section 7430, I.R.C.
1. Held: P's administrative costs were incurred prior
to the issuance of the statutory notice of deficiency
and are therefore not recoverable.
2. Held, further, R's litigation position was
substantially justified as to all contended issues, and
P is therefore not entitled to an award of litigation
costs.
*This opinion supplements our previously filed opinion in
National Industrial Investors, Inc. v. Commissioner, T.C. Memo.
1996-151.
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