John J. Petito - Page 4




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          should reject respondent’s alternative argument regarding Petito            
          corporation’s tax return for 1992.                                          
               This matter was called for hearing at the Court’s motions              
          session in Washington, D.C.  Petitioner and counsel for                     
          respondent appeared at the hearing and offered evidence and                 
          argument in respect of the pending motion.  During the hearing,             
          petitioner offered as an exhibit a purported copy of Petito                 
          corporation’s tax return for 1986.  The document that petitioner            
          offered lacked a signature, and petitioner had redacted all                 
          numerical entries for the purpose of submission of the document             
          as an exhibit.  The Court declined to admit the exhibit as                  
          evidence.  In support of his position that there was no record of           
          Petito corporation’s filing of a 1986 return or an election,                
          counsel for respondent offered as an exhibit a certified                    
          transcript of account purporting to show that Petito corporation            
          did not file a tax return for 1986.  The Court permitted counsel            
          for respondent to withdraw the offer of the exhibit due to                  
          questions regarding the scope of the search that was performed in           
          preparing the transcript.  Counsel for respondent nevertheless              
          argued that petitioner had the burden of showing that Petito                
          corporation made the requisite election.                                    
               Following the hearing, the parties filed a stipulation                 
          including as an exhibit (Exhibit 1-P) a copy of Petito                      








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