John Y. & Marion Robnett - Page 16




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               substantial underpayment attributable to tax motivated                 
               transactions.                                                          
          Respondent presumably determined that the underlying deficiency             
          in this case was a substantial underpayment attributable to a               
          tax-motivated transaction.  This Court does not have jurisdiction           
          to review the underlying deficiency, however, because it was a              
          computational adjustment made pursuant to an adjustment to a                
          partnership item determined in a partnership proceeding.  See               
          Saso v. Commissioner, 93 T.C. 730, 734 (1989).  Thus, because the           
          underlying deficiency is not before this Court, section                     
          6621(c)(4) cannot confer jurisdiction on this Court to determine            
          what portion of such underlying deficiency is attributable to a             
          tax-motivated transaction.  Furthermore, although each addition             
          to tax at issue in this case is a “deficiency” within the meaning           
          of section 6621(c)(4), section 6621(c)(2) excludes additions to             
          tax from the definition of “substantial underpayment attributable           
          to tax motivated transactions,” thereby precluding review under             
          section 6621(c)(4).  White v. Commissioner, supra at 216.                   
               Petitioners further argue that this court has jurisdiction             
          over this matter because the amount assessed by respondent under            
          the authority of section 6621(c) is a penalty, not interest.                
          Tax-motivated interest is clearly interest, prescribed in the               
          same manner as all interest--under section 6601(a), at the rate             
          set forth in section 6621.  Even if the interest could be                   
          considered a “penalty”, it is nonetheless prescribed by section             





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