- 4 -
Commissioner, supra at 177 (1956); cf. Adams v. Commissioner, 85
T.C. 359, 375 (1985) (less stringent standard to modify or set
aside settlement stipulation when a trial is not canceled as a
result of the stipulation).
Petitioner makes no allegations that the decision proffered
by respondent is not in accordance with the stipulation. The
stipulation, which is clear on its face, speaks for itself and
shows that the parties agreed to resolve this case in the manner
therein set out. The stipulation, voluntarily entered into, must
be given binding effect. The parties struck a bargain in the
stipulation, and petitioner must live with the benefits and
burdens of it. See Summers v. Commissioner, T.C. Memo. 1996-17.
We hold that on the material before us, there is no reason to
delay entry of a decision, reflecting the stipulation.
To reflect the foregoing,
An appropriate order will be
issued granting respondent's
motion for entry of decision and
decision will be entered in
accordance therewith.
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Last modified: May 25, 2011