Cristeen B. Comey - Page 13




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          ownership occurred on January 1, 1987, are also contrary to fact,           
          having been vitiated by their later oral stipulation concerning             
          the backdating of the writing on Mr. Riopelle’s stock                       
          certificate.  See Cal-Me. Foods, Inc. v. Commissioner, 93 T.C.              
          181, 195 (1989); Jasionowski v. Commissioner, 66 T.C. 312, 318              
          (1976) (Tax Court may disregard stipulation clearly contrary to             
          evidence in record).                                                        
               Purported Transfer of Capital Fund Shares to Landtrak                  
               Petitioners further contend that when Mrs. Comey acquired              
          Landtrak’s stock on January 1, 1987, she also transferred her               
          Capital Fund shares to Landtrak as a contribution to capital.               
               Once again, aspects of the record appear to support                    
          petitioners’ contentions.  The record contains a copy of a                  
          document titled “Assignment Separate from Certificate” signed by            
          Mrs. Comey.  This document purports to transfer 2,919 Capital               
          Fund shares to Landtrak and is dated January 1, 1987.4 The record           
          also contains copies of some notations, in Mrs.  Comey’s                    
          handwriting, that refer to Capital Fund shares and to the date              
          January 1, 1987.                                                            




               4 We note that 4,710 Capital Fund shares were sold in 1991.            
          Although petitioners did not specifically address the issue, we             
          understand them to argue that reinvested dividends account for              
          the difference between the 2,919 shares purportedly transferred             
          to Landtrak in 1987 and the 4,710 shares sold in 1991.                      





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