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affd. 4 F.3d 709 (9th Cir. 1993), Feldman v. Commissioner, T.C.
Memo. 1991-353, affd. without published opinion 5 F.3d 536 (9th
Cir. 1993), and Garcia v. Commissioner, T.C. Memo. 1991-451,
affd. without published opinion 5 F.3d 536 (9th Cir. 1993).
Respondent filed the above-referenced motion in the instant case
with respect to the disallowance of deductions, investment tax
credits, and related additions to tax in connection with
petitioners' participation in the Encore Leasing Program
(Encore). In their response, petitioners failed to provide the
Court with an adequate basis upon which they could distinguish
themselves from the previously decided cases and were ordered to
either sign a stipulated decision in the instant case or appear
before the Court for a hearing on the matter. This case was
heard at a motions session held on March 27, 1995, at Houston,
Texas, and was taken under advisement.
Petitioners resided in Kountz, Texas, at the time the
petition was filed. Mr. Brooke (petitioner) was employed as a
loan officer at a savings and loan when he invested in Encore.
The instant case arises out of petitioners' participation in
Encore. Encore was in the business of leasing master recordings
of previously released pop and gospel albums.1 Trials were
1For a detailed discussion of the facts and the applicable
law with respect to participation in the Encore Leasing Program,
see Booker v. Commissioner, T.C. Memo. 1996-261; Wolf v.
Commissioner, T.C. Memo. 1991-212, affd. 4 F.3d 709 (9th Cir.
1993); Feldman v. Commissioner, T.C. Memo. 1991-353, affd.
(continued...)
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