- 14 -
interest accruing as the result of adjustments to petitioner's
distributive share of Irving & Co. partnership items.
Consistent with the preceding discussion, we hold that our
jurisdiction in this case is limited to redetermining
petitioners' liability for the additions to tax set forth in the
affected items notice of deficiency, and that we lack
jurisdiction to consider petitioners' liability for interest
computed at the increased rate prescribed in section 6621(c).
Consequently, we shall grant respondent's Motion to Dismiss for
Lack of Jurisdiction and to Strike the Claims Relating to the
Increased Interest Pursuant to Former I.R.C. Section 6621(c).
We shall deny petitioner's Motion to Restrain Assessment and
Collection. Section 6213(a) provides that this Court may enjoin
respondent's collection efforts if respondent is attempting to
collect amounts that have been placed in dispute in a timely
filed petition for redetermination. Powerstein v. Commissioner,
99 T.C. 466, 471-472 (1992); Powell v. Commissioner, 96 T.C. 707,
711 (1991). Having resolved that we lack jurisdiction over the
section 6621(c) interest which respondent assessed following the
conclusion of the Irving & Co. partnership level proceedings, it
is evident that petitioner's Motion to Restrain Assessment and
Collection, which is directed at that assessment, must be denied.
Simply stated, respondent is not attempting to collect amounts
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: May 25, 2011