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Thus, fair market value plays an important role but is not
determinative herein. As a consequence, we reject respondent's
insistence that we should determine a definite figure for fair
market value which should then be compared with the sale price
and automatically measure inurement. Such an approach would
accord that value a preciseness it simply does not have. See
Messing v. Commissioner, 48 T.C. 502, 512 (1967). On the other
hand, we are not prepared to minimize, as petitioner would have
us do, the influence of the fair market value element in
determining whether the sale price should be treated as the
product of arm's-length negotiations, with the absence of
inurement the result.
Burden of Proof and Evidentiary Matters
There is one further preliminary matter. In an earlier
proceeding in this case, we decided that petitioner had made a
proper request for a determination in respect of its exemption
under section 501(c)(3), within the meaning of section
7428(b)(2), that respondent had failed to make a determination
with respect to such request, and that petitioner had filed a
proper and timely petition for a declaratory judgment so that all
the jurisdictional requirements prescribed by section 7428 had
been satisfied. Anclote Psychiatric Ctr., Inc. v. Commissioner,
98 T.C. 374 (1992) (docket No. 19530-91X). Given our conclusion
that respondent had not made the required determination, the
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