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Rules 180, 181, and 183.1 The Court agrees with and adopts the
Opinion of the Special Trial Judge, which is set forth below.
OPINION OF THE SPECIAL TRIAL JUDGE
ARMEN, Special Trial Judge: This case is before the Court
on the motion of Dover Corporation and Subsidiaries (hereinafter
petitioner) to restrain assessment or collection, filed pursuant
to section 6213(a) and Rule 55. As explained in greater detail
below, we will deny petitioner's motion.
As an introductory matter, we observe that the taxable years
before the Court in the present case are 1992 and 1993; however,
for purposes of petitioner's motion, our focus will be on 1993.
Nevertheless, because of various carrybacks and carryforwards,
taxable years other than those in issue will be discussed, and
certain of those other taxable years are before the Court in
other dockets.
Background
Petitioner reported overpayments of Federal income tax in
the amounts of $4,132,466, $10,711,683, and $7,729,449 on its
income tax returns for 1990, 1991, and 1992, respectively. In
each instance, petitioner made an election to treat such
overpayment as a credit to be carried forward and applied as an
1 Unless otherwise indicated, all section references are to
the Internal Revenue Code in effect for the taxable years in
issue, and all Rule references are to the Tax Court Rules of
Practice and Procedure.
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