- 4 -
On April 4, 1995, respondent issued a so-called affected
items notice of deficiency to petitioner for each of the taxable
years 1984 and 1985. The affected items notices of deficiency
set forth respondent's determination that petitioner is liable
for additions to tax under sections 6651(a)(1) and 6659 for 1984
and 1985. Respondent determined that petitioner is liable for
those additions to tax as a consequence of the adjustments to
petitioner's tax liability arising from the disallowance of
partnership items of December Associates for 1983, 1984, and
1985.
Petitioner invoked this Court's jurisdiction by filing a
timely petition for redetermination. The petition includes an
allegation that petitioner is entitled to a refund under section
6512 in respect of any taxes assessed or paid after the
expiration of the applicable period of limitations. See Barton
v. Commissioner, 97 T.C. 548 (1991). After respondent filed her
answer, petitioner filed his two motions for partial summary
judgment.
In his Motion for Partial Summary Judgment Regarding The
Overvaluation Penalty, petitioner seeks a ruling that he is not
liable for the additions to tax under section 6659 as determined
by respondent. Although respondent initially filed an objection
to petitioner's motion, respondent subsequently filed a
Memorandum of Law, which states as follows:
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011