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buyer and seller in Watson attributed substantial value to the
unmatured crop. Id. at 550. Watson is not analogous to this
case because here the parties to the exchange attributed no value
to sand which had not been mined or otherwise separated from the
realty.
We conclude that respondent's position in the notice of
deficiency that petitioners transferred assets other than land
had no basis in law.
D. Conclusion
We conclude that respondent's position had no basis in fact
or law and was not substantially justified. Thus, petitioners
are entitled to an award for administrative and litigation costs
under section 7430.
To reflect the foregoing,
An appropriate order will
be issued granting petitioners'
motion for an award of
administrative and litigation
costs, as amended and
supplemented.
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