The Manchester Group and Subsidiaries, Formerly Torrey Enterprises, Inc., and Subsidiaries, Formerly Torrey Development Corporation and Subsidiaries - Page 6

                                         - 6 -                                        

               Petitioners' counsel executed the stipulated decision in               
          November 1993.  Nevertheless, petitioners' counsel did not intend           
          the stipulated decision to be conclusive as to litigation costs.            
               In December 1993, respondent's counsel executed the                    
          stipulated decision and forwarded it to the Court.                          
               On December 9, 1993, the Court received the stipulated                 
          decision.  The portion consisting of the form of decision recited           
          that "Pursuant to the agreement of the parties in this case",               
          petitioners were not liable for any deficiency, additions to tax,           
          or additional interest for the taxable year in issue.  The                  
          portion consisting of the stipulation recited that "It is hereby            
          stipulated that the Court may enter the foregoing decision in the           
          above-entitled case" and was executed by counsel for the parties.           
          As previously indicated, the stipulated decision was silent                 
          regarding litigation costs.                                                 
               On December 10, 1993, the Court executed the form of                   
          decision and formally entered decision pursuant to the agreement            
          of the parties (the Decision).  Also on December 10, 1993, the              
          Court served conformed copies of the Decision on the parties.               
          Thereafter, the Court struck petitioners' case from the February            
          28, 1994, trial session in San Diego.                                       
               In January 1994, respondent closed the administrative and              
          litigation files related to this case and discarded certain                 






Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  Next

Last modified: May 25, 2011