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petitioners alleged that a number of MMI’s checks to them were
not honored by MMI’s banks. Petitioners’ records reflect that
petitioners received over $800,000 from MMI after respondent
issued MMI the August 15, 1978, notice of levy, of which
approximately $210,000 was received on or after December 15,
1978. Petitioners contend that these payments were “partial
advance payments to petitioners for assurance of future shipments
of scrap metal.”
Several payment invoices from MMI to petitioners for invoice
Nos. 37, 47, 306, and 419 refer to payments for deliveries that
occurred between February and July 1977. According to
petitioners’ business ledger, which begins in August 1977, the
first payments on invoice Nos. 37, 47, 306, and 419 began only
after the August 15, 1978, notice of levy was issued to MMI. The
payment invoices also provide check numbers for the payments made
to petitioners, and those numbers are reported in the “detail”
column of petitioners’ business ledger. We note that, after
August 15, 1978, many payments to petitioners reflected in the
accounts receivable ledger bear no check numbers.
Petitioners have not provided us with any other business
records or invoices, such as payment slips showing that the
payments from MMI were from post-levy dealings with MMI, which
might have substantiated their claim that the payments were for
“partial advance payments”, and that those “partial advance
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