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Discussion3
Rule 121 provides for summary judgment on legal issues in
controversies where there is no genuine issue of material fact.
Sundstrand Corp. v. Commissioner, 98 T.C. 518, 520 (1992), affd.
17 F.3d 965 (7th Cir. 1994); Naftel v. Commissioner, 85 T.C. 527,
528-529 (1985); Jacklin v. Commissioner, 79 T.C. 340, 344 (1982).
The burden is on the moving party to show that it is entitled to
summary judgment and that the matter may be decided on the basis
of the documents before this Court. Espinoza v. Commissioner, 78
T.C. 412, 416 (1982); Gulfstream Land & Dev. Corp. v.
Commissioner, 71 T.C. 587, 596 (1979); Giordano v. Commissioner,
63 T.C. 462 (1975). Summary judgment is intended to expedite
litigation and avoid unnecessary and expensive trials. Florida
Peach Corp. v. Commissioner, 90 T.C. 678, 681 (1988).
Section 2501 imposes, generally, a tax on gifts of property
by an individual. The gift is measured by the value of the
property passing from the donor; if the gift is made in property,
the property's value at the date of the gift is considered the
amount of the gift. Sec. 2512(a). Fair market value is
determined to be the price at which the property would change
hands between a willing buyer and a willing seller, neither party
3Both parties have presented objections to individual
stipulations on the grounds of relevance. We find them to be
without merit and/or irrelevant to the decision of this case.
Consequently, we do not address these matters.
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