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accounting under sec. 446(e), I.R.C.; therefore, P is
not entitled to the claimed expense deductions.
Robert Thomas Carney, for petitioner.
Gary F. Walker, Sergio Garcia-Pages, and Robert W. Dillard,
for respondent.
OPINION
RUWE, Judge: This matter is before the Court on
respondent’s motion for partial summary judgment filed pursuant
to Rule 121.1 The sole issue presented is whether petitioner’s
attempt to recharacterize as repair expenses, expenditures which
it had characterized on its tax returns as capital expenditures
for the taxable years 1988 to 1992, is an impermissible change in
accounting method under section 446(e).
Background
FPL Group, Inc. (petitioner) is a corporation organized and
existing under the laws of the State of Florida with its
principal office located in Juno Beach, Florida. Florida Power &
Light Co. (Florida Power) is a wholly owned subsidiary of
1Unless otherwise indicated, all section references are to
the Internal Revenue Code in effect for the years in issue, and
all Rule references are to the Tax Court Rules of Practice and
Procedure.
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