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franchise agreement to permit a determination of
whether property actually used by M for that purpose
may be considered "readily identifiable with" such
agreement within the meaning of sec. 204(a)(3), id.,
and (2) there are genuine issues of material fact in
determining whether all the property actually used is
"readily identifiable with and necessary to carry out"
the franchise agreement as required by sec. 204(a)(3),
id. Both motions for partial summary judgment shall be
denied.
Bernard J. Long, Jr., David E. Mills, and James R. Saxenian,
for petitioner.
Gary D. Kallevang and William J. Gregg, for respondent.
MEMORANDUM OPINION
HALPERN, Judge: Both petitioner Newhouse Broadcasting Corp.
(petitioner) and respondent have moved for partial summary
judgment. Each party objects to the other’s motion. The issue
common to those motions (petitioner’s motion, respondent’s
motion, or, together, the motions) is whether MetroVision of
Livonia, Inc. (MetroVision), a wholly owned subsidiary of
petitioner’s, is entitled to an investment tax credit (ITC) on
account of certain property placed in service by it during its
taxable years ended July 31, 1989 and 1990 (the 1989 and 1990
taxable years or the audit years). The property in question
relates to a cable television franchise awarded to MetroVision in
1983. The motions require us to interpret the supply or service
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