Lakewood Associates, Robert G. Moore, Tax Matters Partner - Page 2

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          the course of a hearing conducted in this case, the parties made            
          certain factual representations to the Court going beyond the               
          matters alleged in the pleadings.  Consistent with Rule 120(b),2            
          the Court advised the parties of its intention to treat                     
          respondent's motion as a Motion for Summary Judgment and directed           
          the parties to file separate reports with the Court attaching               
          thereto any exhibits, affidavits, or other documentation                    
          necessary to complete the record.  See Rule 121(b) and (d).  The            
          parties having complied with the Court's order, respondent's                
          Motion for Judgment on the Pleadings shall be treated herein as a           
          Motion for Summary Judgment.  See Francis v. Commissioner, T.C.             
          Memo. 1988-30.                                                              
               The issue for decision is whether respondent is entitled to            
          a summary judgment denying Lakewood Associates' claim to a loss             
          for 1989 related to a "taking" of certain real property.                    
          Summary judgment is intended to expedite litigation and                     
          avoid unnecessary and expensive trials.  Florida Peach Corp. v.             
          Commissioner, 90 T.C. 678, 681 (1988).  Summary judgment may be             

          2  Rule 120(b) provides:                                                    
               (b) Matters Outside Pleadings:  If, on a motion                        
               for judgment on the pleadings, matters outside the                     
               pleadings are presented to and not excluded by the                     
               Court, the motion shall be treated as one for summary                  
               judgment and shall be disposed of as provided in Rule                  
               121, and all parties shall be given reasonable                         
               opportunity to present all material made pertinent to                  
               such a motion by Rule 121.                                             





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