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exhibits on November 9, 1995. On the same date, petitioners'
motion for decision ordering relief from the negligence penalty
and the penalty rate of interest, with attachments, and
petitioners' memorandum in support of such motion were lodged
with the Court. Subsequently, respondent's objections, with
attachments, and memorandum in support thereof, were filed.
1. Background and Procedural Matters
This case is part of the Plastics Recycling group of cases.
The opinion in the lead case in that group, Provizer v.
Commissioner, T.C. Memo. 1992-177, affd. without published
opinion 996 F.2d 1216 (6th Cir. 1993), concerning the substance
of the transaction and the additions to tax, was filed on March
25, 1992. To date, we have decided more than 25 cases involving
various aspects of the Plastics Recycling transactions. Most
such cases primarily concern additions to tax for negligence and
valuation overstatement. When the present case was tried, on
March 31 and April 1, 1994, the opinion in Provizer v.
Commissioner, supra, had been issued. Before petitioners filed
their motion for leave, more than 12 additional opinions had been
filed concerning negligence and valuation overstatement in
Plastics Recycling cases.
Petitioners base their motion for leave largely upon
petitioners' alleged discovery, after the record was closed, of a
Stipulation of Settlement between the taxpayers in this case and
respondent in a different case for another year. Petitioners
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