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Court's opinion in Commissioner v. Schleier, supra. Prior to
that time there was confusion concerning the scope of section
104. Indeed, even in the wake of Commissioner v. Schleier,
supra, there is continuing litigation concerning releases similar
to that executed here. See, e.g., Brennan v. Commissioner, T.C.
Memo. 1997-317; Morabito v. Commissioner, T.C. Memo. 1997-315;
Keel v. Commissioner, T.C. Memo. 1997-278; Webb v. Commissioner,
T.C. Memo. 1996-50; Elpi v. United States, Civil No. 3:96CV00315
(D. Conn., June 12, 1997). While petitioners' position may be
wrong, we cannot say that it was unreasonable considering the
confusion in this area of the law. Accordingly, we do not
sustain the section 6662(a) penalty.
Decision will be entered
for respondent with respect to
the deficiency and for petitioners
with respect to the penalty under
section 6662(a).
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