DHL Corporation and Subsidiaries - Page 3

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          VI.    Are Petitioners Entitled to Setoffs                                  
          to Any of the Section 482 Allocations                                       
          That Have Been Sustained? . . . . . . . . . . . . . . 159                   
          VII.   Section 6662 Penalties  . . . . . . . . . . . . . . . 163            
          Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . 171            

                       MEMORANDUM FINDINGS OF FACT AND OPINION                        
               GERBER, Judge:  Respondent determined deficiencies in income           
          tax and penalties for petitioners’ 1990, 1991, and 1992 taxable             
          years as follows:                                                           
                  Additions to Tax                                                    
          Sec.                Sec.                                                    
          Year        Deficiency          6662(a)             6662(h)                 
          1990       $194,534,167      $3,036,446.00        $71,740,776               
          1991         13,912,891       1,599,675.20          2,365,806               
          1992        216,139,109       1,835,598.00         82,784,448               
          In addition, respondent denied timely filed claims for refund by            
          petitioners with respect to the taxable years ended December 31,            
          1990, 1991, and 1992, in the amounts of $62,851, $920,991, and              
          $3,208,934, plus interest thereon, respectively.                            
               The following issues remain for our consideration:                     
          (1) Whether respondent’s determinations in the statutory notices            
          of deficiency were arbitrary, capricious, or unreasonable; (2)              
          whether petitioners and certain other entities were commonly                
          controlled, for purposes of section 482,1 on or after December 7,           
          1990; (3) whether petitioners realized additional capital gain on           
          the sale of the DHL trademark; (4) whether petitioners’ postsale            

               1  Unless otherwise stated, section references are to the              
          Internal Revenue Code as amended and in effect for the periods              
          under consideration.  Rule references are to this Court's Rules             
          of Practice and Procedure.                                                  




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