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Respondent determined a deficiency of $250,534 in
petitioner's Federal estate tax. Petitioner alleged in its
petition that it overpaid its estate tax because Decedent's
20-percent interest in the Partnership was worth $179,615, rather
than the $533,895 amount reported on Form 706.
Discussion
Respondent determined the fair market value of Decedent's
interest in the Partnership by referring to sales of property
similar to the Partnership's assets. Petitioner argues that
Estate of Watts v. Commissioner, 823 F.2d 483 (11th Cir. 1987),
affg. T.C. Memo. 1985-595, and Golsen v. Commissioner, 54 T.C.
742 (1970), affd. 445 F.2d 985 (10th Cir. 1971), require that
petitioner's partnership interest be valued under a "going
concern" methodology.
Summary judgment is intended to expedite litigation and
avoid unnecessary and expensive trials of phantom factual issues.
Kroh v. Commissioner, 98 T.C. 383, 390 (1992); Shiosaki v.
Commissioner, 61 T.C. 861, 862 (1974). Rule 121(a), Tax Court
Rules of Practice and Procedure, provides that either party may
move for summary judgment in its favor upon any or all parts of
the legal issues in controversy. A decision may be rendered by
way of summary judgment "if the pleadings, answers to
interrogatories, depositions, admissions, and any other
acceptable materials, together with the affidavits, if any, show
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