-9-
Petito corporation made a timely election. Petitioner testified
that he prepared and filed a timely 1986 tax return and election
on behalf of Petito corporation. Certainly, petitioner is
entitled to have the Court consider evidence of a retained copy
of the return and election purportedly filed. We conclude that
the document is relevant. The remainder of respondent’s
objection--that the exhibit is neither an original nor an exact
duplicate--is nonsensical. Petitioner claims to have filed the
return and election with respondent. It would be entirely
consistent with this testimony that petitioner would not have the
original return or election in his possession. Furthermore,
petitioner testified that he photocopied the return and election
prior to signing the documents. Thus, respondent’s suggestion
that the exhibit is not an exact duplicate has no foundation.
See Fed. R. Evid. 1001(3) and (4), 1003, and 1004(3). Exhibit
1-P is relevant and admissible, and respondent’s objection is
overruled.
3. Whether Petito Corporation Made a Valid Election
Based on this record, we are not satisfied that Petito
corporation made a valid election to have the unified S
corporation audit and litigation procedures apply to it pursuant
to section 301.6241-1T(c)(2)(v), Temporary Proced. & Admin.
Regs., supra. The purported copy of Petito corporation’s 1986
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