- 13 -
1990-53. The burden of proof as to new matters and increased
deficiencies pleaded in the amended answer will be upon
respondent. Rule 142(a).
B. Petitioners' Motion for Leave To File Amendment to
Petition
Petitioners seek leave to amend their petition to allege in
greater detail the facts necessary to establish the amount of net
operating losses that they contend may be carried back to 1987
and 1988, as well as the amount of refunds due them for those
years stemming from what they contend are the "proper"
computational adjustments for 1989 and 1990. Petitioners further
seek to amend their petition to allege that respondent's
application of the higher interest rate imposed on tax motivated
transactions pursuant to section 6621(c) to the assessments for
1987 and 1988 is in error.
Respondent has stated in writing that, if the Court were to
grant respondent's motion to amend the answer, respondent would
withdraw any objection to petitioners' motion to amend the
petition. Accordingly, we will grant petitioners' motion. Rule
41(a).
II. Petitioners' Motion for Summary Judgment
Among other things, in their motion for summary judgment,
petitioners ask the Court to: (1) Find that the proper
characterization of their distributive share of partnership
losses is neither an affected item nor a partnership item for
Page: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 NextLast modified: May 25, 2011