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A. Duane Webber, Leonard B. Terr, C. David Swenson, and
Christopher R. Loomis, for petitioners.
John A. Guarnieri, Richard H. Gannon, and Richard L.
Osborne, for respondent.
OPINION
SWIFT, Judge: These consolidated cases are before the Court
under Rule 121 on the parties’ cross-motions for summary
judgment. Petitioners contend that if their motion for summary
judgment is not granted, a certain factual matter remains in
dispute that precludes summary judgment in favor of respondent.
The issue for decision is whether, in consolidating nonlife
insurance companies (sometimes referred to as nonlife companies)
with life insurance companies (sometimes referred to as life
companies) and for purposes of calculating, under section
1503(c)(1) and (2), the amount of net operating losses of nonlife
companies that may reduce income of life companies, companies
that constituted members of a “recently acquired” affiliated
group of nonlife companies that previously filed consolidated
Federal income tax returns are to be treated as a single
aggregate entity, as petitioners contend, or as separate
entities, as respondent contends.
The issue presented in these cross-motions for summary
judgment involves deficiencies determined by respondent in the
Federal income taxes of petitioners Connecticut General Life
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