Tate & Lyle, Inc. and Subsidiaries - Page 6

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          In addition, the parties' motion states that while petitioner               
          opposes respondent's Motion for Leave to File Amendment to                  
          Answer, the parties nonetheless agree that resolution of the                
          general business credit issue will not require a trial for                  
          submission of evidence.                                                     
          Docket No. 16170-94                                                         
               On June 9, 1994, respondent issued a statutory notice of               
          deficiency to petitioner (and its subsidiaries) determining a               
          deficiency of $4,253,661 in its Federal income tax for its                  
          taxable year ended September 30, 1990.  A review of the notice of           
          deficiency shows that respondent determined the deficiency after            
          making a number of adjustments to petitioner's items of income              
          and expense and after allowing petitioner certain credits,                  
          including the general business credit provided by section 38.               
          Respondent computed petitioner's general business credit on the             
          assumption that petitioner is entitled to a general business                
          credit carryover of $17,526,965 from its taxable year ended                 
          September 30, 1989.                                                         
          Petitioner invoked this Court's jurisdiction by filing a                    
          timely petition for redetermination on September 7, 1994,                   
          assigned docket No. 16170-94.  Although the petition includes an            
          allegation that respondent erred in computing the amount of                 
          petitioner's general business credit for the year in issue, it is           
          clear from the context that petitioner raised the issue as a                
          purely computational matter.  Respondent filed her answer to the            



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