- 111 -
issue represented a gross receipt of MZ Trading for 1993 that it
reported in its Form 1065 for that year.
With respect to the May 3, 1993 alleged MZ Trading-related
deposit at issue of $37,680, petitioner contends that that
deposit, which we have found was derived from a $37,680 check
from Mr. Vulis, represented a loan to MZ Trading relating to
trade number 11, a transaction for candies, reflected in MZ
Trading’s purported 1993 transaction summary. According to
petitioner, on May 4, 1993, the day after the May 3, 1993 alleged
MZ Trading-related deposit, a $37,680 check payable to PNH
International in New York was posted on petitioner’s equity line
account in order to acquire on behalf of MZ Trading the candies
reflected in that purported summary. In support of those conten-
tions, petitioner relies on his self-serving testimony and the
testimony of Mr. Guterman, on which we are not required to, and
we shall not, rely.66 As for the evidence showing a $37,680
check payable to PNH International in New York on petitioner’s
equity line account on May 4, 1993, the only evidence in the
record with respect to that check, except for petitioner’s
testimony, is a copy of the statement for petitioner’s equity
line account. The copy of that statement in the record does not
establish the payee or the purpose of the $37,680 check which was
66See our discussion supra note 65. We note that, when
asked at the further trial in this case, Mr. Vulis was unable to
remember the purpose of the $37,680 check that was used to make
the May 3, 1993 alleged MZ Trading-related deposit of $37,680.
Page: Previous 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 NextLast modified: May 25, 2011