111 T.C. No. 14 UNITED STATES TAX COURT HALLMARK CARDS, INCORPORATED AND SUBSIDIARIES, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 27306-92. Filed October 30, 1998. In a decision which has become final, this Court determined that P had an overpayment of Federal income tax for the taxable year 1987, due to a foreign tax carryback from 1989. Prior to the application of the carryback, P had a deficiency for 1987. P filed a timely motion to redetermine interest under sec. 7481(c), I.R.C. Thereafter, P filed a motion for leave to withdraw its earlier motion on jurisdictional grounds. Held, this Court has jurisdiction over P's motion to redetermine interest. Held, further, the exercise of such jurisdiction is mandatory, and, thus, P's motion to withdraw is denied. Held, further, P's motion to redetermine interest is denied. Intel Corp. & Consol. Subs. v. Commissioner, 111 T.C. 90 (1998). Jerome B. Libin, James V. Heffernan, Bradley M. Seltzer, and James B. Overman, for petitioner. Michael L. Boman, for respondent.Page: 1 2 3 4 5 6 7 8 9 10 11 Next
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