Larry L. Beeler and Cynthia J. Beeler - Page 14

                                                - 14 -                                                  

                  Respondent contends that we should give no weight to the                              
            testimony of Mrs. Beeler, Dakic, Burke, and Gilmore because it                              
            was self-serving and unbelievable.  We disagree.  We may not                                
            arbitrarily disregard unimpeached, competent, and relevant                                  
            testimony.  Conti v. Commissioner, 39 F.3d 658, 664 (6th Cir.                               
            1994), affg. 99 T.C. 370 (1992) and T.C. Memo. 1992-614; Loesch &                           
            Green Constr. Co. v. Commissioner, 211 F.2d 210, 212 (6th Cir.                              
            1954), revg. a Memorandum Opinion of this Court.  Mrs. Beeler,                              
            Dakic, Burke, and Gilmore testified in a manner fully consistent                            
            with the documents related to the transaction at issue and with                             
            each other's testimony.  Respondent produced no evidence to the                             
                  We conclude that petitioners transferred land and no other                            
            tangible property to the buyers.                                                            
                  2.    Whether Petitioners Exchanged Their Mining and                                  
                        Construction and Demolition Debris Dump Permits                                 
                  Respondent contends that petitioners exchanged their Pasco                            
            County sand mining and construction and demolition debris dump                              
            permits with the 76.5 acres.  We disagree.                                                  
                  The parties to the exchange and their attorneys testified                             
            that petitioners did not exchange their Pasco County permits.                               
            The documents conveying property in the exchange did not list the                           
                  Cynthia Jolly (Jolly) was the Code Enforcement Director for                           
            Pasco County at the time of trial.  She was very knowledgeable                              

Page:  Previous  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  Next

Last modified: May 25, 2011