- 77 -
balance sheet and income statement for the year ended March 31,
1986. See Rybak v. Commissioner, 91 T.C. at 566 n.19. Conse-
quently, we unconditionally admit that document into evidence and
make it a part of the record in these cases.
4. Annual Reports of Pioneer and
Financial Statements of Multi-Credit
Respondent objected in the stipulations on grounds of hear-
say to the admission of certain documents that purport to be
Pioneer's annual reports for the years ended March 31, 1983,
March 31, 1984, March 31, 1985,51 and March 31, 1986, and Multi-
Credit's financial statements for the years ended March 31, 1986,
and March 31, 1987. On brief, respondent does not restate those
objections or advance any argument relating to them. We there-
fore presume that respondent has abandoned her evidentiary objec-
tions to the admission into evidence of the documents that pur-
port to be the annual reports of Pioneer and the financial
statements of Multi-Credit. See Rybak v. Commissioner, 91 T.C.
at 566 n.19. Consequently, we unconditionally admit those
documents into evidence and make them a part of the record in
these cases.52
51 Contrary to the parties' stipulation that Exhibit 15-O is
Pioneer's annual report for the year ended Mar. 31, 1985, we find
that exhibit to be an incomplete copy of that annual report. At
a minimum, that exhibit lacks certain notes to the financial
statements of Pioneer and its subsidiaries that are referred to
therein.
52 We unconditionally admit Exhibit 15-O as an incomplete copy
(continued...)
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