El Charro TV Rental, Inc., Diana L. Peters, Tax Matters Person - Page 4

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          Circuit denied a request for a rehearing en banc in El Charro I.2           
          After the time for filing a petition for certiorari had expired,            
          respondent moved for entry of decision.  In response to that                
          motion, petitioner contended that the affirmed opinion in El                
          Charro I failed to address the legal issue presented in this case           
          and El Charro I.                                                            
               We were persuaded to delay ruling on respondent’s motion               
          because the same issues concerning the other participants in the            
          earlier consolidated cases had been appealed to the Court of                
          Appeals for the Tenth Circuit by the participants other than                
          petitioner.  The Court of Appeals, on April 14, 1998, issued its            
          opinion, reversing and remanding the opinion issued by this Court           
          as it affected the two controlling case participants other than             
          petitioner herein.  At this juncture, alternative possibilities             
          for resolution have been exhausted, and it is not appropriate to            
          delay further action on respondent's motion.                                
               The operative language of the agreement between petitioner             
          and respondent limits the resolution of the adjustments in this             
          case to the same result obtained by petitioner as a litigant in             
          El Charro I if it was decided that the income forecast method was           

          2 El Charro TV Rental, Inc. v. Commissioner, 79 F.3d 1145                   
          (5th Cir. 1996), rehearing denied 85 F.3d 627 (5th Cir. 1996),              
          affg. without published opinion ABC Rentals of San Antonio, Inc.            
          v. Commissioner, T.C. Memo. 1994-601.                                       

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