San Francisco Wesco Polymers, Inc. - Page 6




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          issue of material fact exists and that a decision may be rendered           
          as a matter of law.  See Rule 121(b); Sundstrand Corp. v.                   
          Commissioner, 98 T.C. 518, 520 (1992), affd. 17 F.3d 965 (7th               
          Cir. 1994).  The moving party bears the burden of proving that              
          there is no genuine issue of material fact, and factual                     
          inferences will be read in a manner most favorable to the party             
          opposing summary judgment.  See Dahlstrom v. Commissioner, 85               
          T.C. 812, 821 (1985); Jacklin v. Commissioner, 79 T.C. 340, 344             
          (1982).                                                                     
               We are satisfied that no genuine issue of material fact                
          exists.  Partial summary adjudication is therefore appropriate in           
          this case.                                                                  
               Since the deficiency notice was mailed more than 3 years               
          after the filing of the tax return for SFWP's taxable year ended            
          June 30, 1993, respondent is barred from assessing a deficiency             
          for that year unless an exception to section 6501(a) applies.               
          The pertinent exception in this case is found in section                    
          6501(c)(4) which provides:                                                  
               (4)  Extension by agreement.--Where, before the                        
          expiration of the time prescribed in this section for the                   
          assessment of any tax imposed by this title, * * * both the                 
               Secretary and the taxpayer have consented in writing to its            
               assessment after such time, the tax may be assessed at any             
               time prior to the expiration of the period agreed upon * * *           









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