- 61 -
$10,867,511 for 1989. The breakdown of these amounts is as
follows:
Calendar Type of Interest
Year or Dividend Amount
1987 IFF $400,129
MMA 587,014
Byte 681,493
1988 IFF 1,115,904
MMA 1,751,904
InverCedes 220,178
MMA II 3,017,875
Byte 257,872
1989 IFF 402,695
MMA 800,214
Asset Management Account 12,222
Eurodeposits 1,579,147
InverCedes 1,434,760
InverCede2 92,305
Liquid Assets 379,880
11(...continued)
withholding tax for calendar year 1987. Respondent contended
that, because the dividend was in the statutory notice of
liability for calendar year 1987, it was still in issue.
Petitioners objected to the dividend issue on the ground that it
was raised "only on the eve of trial." The Court denied the
motions as untimely.
Respondent argues on brief that "the Court did not
specifically rule on petitioners’ objection" and that their
objection "should be overruled." We believe that implicit in our
denial of the motions to amend and to conform the pleadings to
the proof was a ruling that petitioners’ objection was sustained.
Consequently, we find that the $500,000 dividend is not an amount
that is in issue for calendar year 1987 in the instant cases.
For calendar year 1988, the parties’ stipulated joint
exhibit listed in brackets a dividend in the amount of $500,000
but did not include such amount in the total amount that was
subject to withholding tax. A dividend in the amount of $500,000
was not included in the statutory notice of liability for
calendar year 1988. Consequently, we find that the $500,000
amount listed as a dividend in the stipulated joint exhibit is
not an amount that is in issue for calendar year 1988 in the
instant cases.
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