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parties’ disputed computations under Rule 155 of the decision to
be entered for Nestle Holding Inc.’s (petitioner) 1983, 1984, and
1985 tax years.1 The ruling in this opinion relates solely to
petitioner’s 1985 tax year.2 The issue presented to us is
whether the parties agreed in two settlement agreements on the
method of computing the deficiency and/or overpayment for the
1985 tax year. In the event that respondent’s interpretation of
the settlement agreements is rejected by the Court, respondent
concedes that petitioner is entitled to a refund of $36,441,904.
See Respondent’s Additional Memorandum of Law.
Background
1995 Tax Court Opinion
Respondent determined deficiencies in petitioner’s Federal
income taxes as follows:
Taxable Year Ending Amount
Dec. 31, 1983 $38,934,552
Dec. 29, 1984 21,764,946
Dec. 28, 1985 285,591,539
On September 14, 1995, after the settlement of numerous
issues by the parties, the Court rendered an opinion (1995
1 Unless otherwise indicated, all Rule references are to
the Tax Court Rules of Practice and Procedure, and all section
references are to the Internal Revenue Code in effect for the
years in issue (or the Internal Revenue Code in effect for years
in which carrybacks were generated).
2 Although we discuss petitioner’s 1983 and 1984 tax years
herein, we dispose of those tax years separately in an
accompanying order.
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