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With respect to the June 30, 1992 transaction at issue
consisting of a $26,000 deposit and $250 in cash that petitioner
received, petitioner contends that that deposit and that cash,
which we have found were derived from a $26,250 check from Amuke
Business Association, represented a business loan from that
association with respect to his purchase of certain cigarette
lighters on July 20, 1992, when he tendered $16,000 to Carvey’s
Discount. In support of that contention, petitioner relies on
(1) his self-serving testimony, (2) a document entitled “COMMER-
45(...continued)
occur, and he repaid Amuke Business Association $31,167.50 as
evidenced by a check dated May 19, 1992. To support petitioner’s
contentions, petitioner relies on his self-serving testimony and
on an entry in a statement for petitioner’s equity line account,
which shows that on May 19, 1992, a check for $31,167.50 was
drawn on that account (May 19, 1992 withdrawal). We are not
required to, and we shall not, rely on petitioner’s testimony
regarding the May 12, 1992 deposit in question. On the instant
record, we find that petitioner has failed to carry his burden of
showing that Amuke Business Association received the May 19, 1992
withdrawal that is reflected in a statement for petitioner’s
equity line account. Even if petitioner had made such a showing,
we find on the record before us that petitioner has failed to
carry his burden of establishing that that withdrawal represented
a repayment to Amuke Business Association of a business loan that
it had made to petitioner. We note that petitioner did not
elicit any testimony from Mr. Vulis regarding petitioner’s
contention that Amuke Business Association made a $31,167.50
business loan to petitioner on May 11, 1992. We infer from
petitioner’s failure to elicit any such testimony with respect to
the alleged business loan that any such testimony would not have
been favorable to petitioner’s position regarding that alleged
loan. We also note that petitioner did not offer into evidence
any credible documentary evidence supporting his position that
$31,167.50 of the May 12, 1992 deposit in question represented a
business loan from Amuke Business Association. We infer from
petitioner’s failure to proffer any such documentary evidence
that any such evidence does not exist and that, if any such
evidence does exist, it would not have substantiated petitioner’s
position regarding that alleged loan.
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