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rewrite the statute in order to change procedure and
substitute our own idea of "fairness." If there is any
such inequity, it is up to Congress to revise the law.
* * * [Genesis Oil & Gas, Ltd. v. Commissioner, 93 T.C.
562, 566 (1989).]
In regards to the settlement of a partnership proceeding,
section 6224(c)(3) provides that in the absence of fraud,
malfeasance, or misrepresentation of fact, a TMP may bind a
nonnotice partner by any settlement agreement entered into by the
TMP and in which the TMP expressly states that such agreement
shall bind the other partners.
Once a partnership proceeding is finalized through
settlement, computational adjustments at the partner level are
made to record the change in the partners' tax liability that
results from adjustments in the settlement to partnership items.
The accuracy of the computational adjustments may be contested,
as provided in section 6230(c), but the treatment of the
partnership items under the settlement is conclusive. Sec.
6230(c)(4).2 However, the Code does not provide this Court with
jurisdiction of a section 6230(c) type of judicial proceeding.
Therefore it can be concluded that we have no jurisdiction
to consider anything pertaining to partnership items of
Nurseries. Petitioners, as nonnotice partners of Nurseries, were
2 A proceeding under sec. 6230(c) requires, inter alia, a
timely claim for refund within 6 months of the notice of
computational adjustment. Petitioners did not file such a
document.
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