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(Partnership), for an award under section 7430 of reasonable
litigation costs (PFI's motion). Neither party has requested a
hearing, and we conclude that one is not necessary. Rule
232(a)(3). Based on the submissions of PFI and respondent, we
conclude that no litigation costs may be awarded under section
7430.
Background
Respondent determined in the notice of final partnership
administrative adjustment (FPAA) adjustments to the Form 1065
(Federal partnership return) that Partnership filed for 1988 that
related to certain depreciation claimed and to the lease (lease
agreement) of an office building between Partnership as lessor
and BCE Development Properties, Inc. (BCE) as lessee. The
petition in this case that was filed on December 16, 1994,
contested those adjustments, the parties settled the depreciation
adjustments, and the Court issued an Opinion on the adjustments
relating to the lease agreement in Republic Plaza Properties
Partnership v. Commissioner, 107 T.C. 94 (1996) (Opinion). We
incorporate herein by reference the portions of our Opinion that
are relevant to our disposition of PFI's motion.
On June 14, 1988, PFI purchased from BCE an undivided 35-
percent interest in Partnership. On February 28, 1992, PFI
transferred that interest to Brookfield Development. However,
PFI retained all financial interest and/or tax liability with
respect to Partnership's 1988 and 1989 Federal partnership
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