Investment Research Associates - Page 544




                                       - 585 -                                         
          "inadvertently" failed to address some adjustments, this omission            
          on his part was caused by respondent's representing "at the                  
          conclusion of the trial that all issues upon which petitioners               
          bore the burden of proof had been addressed by petitioners                   
          (subject to certain specifically identified exceptions)."                    
               Respondent, on the other hand, contends that Kanter is                  
          liable for additions to tax under section 6653(a) because he, a              
          knowledgeable tax attorney, was negligent, and he failed to meet             
          his burden of proving that he acted reasonably or exercised due              
          care.                                                                        
               We agree with respondent.  We first reject Kanter's                     
          contention that he should somehow be "excused" from liability for            
          additions to tax under section 6653(a) with respect to those                 
          adjustments he may have "inadvertently" failed to address because            
          of respondent's alleged statement near conclusion of the trial               
          that Kanter had "addressed all issues" upon which he had the                 
          burden of proof.  As previously discussed, we conclude that such             
          statement was not a waiver or concession by respondent of those              
          issues raised in the notices of deficiency.  Furthermore, the                
          Court does not believe that Kanter was misled because the Court              
          twice advised his counsel that he was responsible for seeing that            
          Kanter had fully addressed all issues upon which Kanter bore the             
          burden of proof.                                                             








Page:  Previous  575  576  577  578  579  580  581  582  583  584  585  586  587  588  589  590  591  592  593  594  Next

Last modified: May 25, 2011