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First, in all but two cases (Dave True’s date of death
interests in Black Hills Trucking and White Stallion), the values
of the subject interests advanced by respondent on brief were
lower than those determined in the deficiency notices.
Therefore, respondent is not reverting to the deficiency notice
values. Second, the mere fact that the position of one party is
not supported by expert testimony does not require that the other
party’s position, which is so supported, will prevail. See Tripp
v. Commissioner, 337 F.2d 432, 434-435 (7th Cir. 1964), affg.
T.C. Memo. 1963-244; Wyoming Inv. Co. v. Commissioner, 70 F.2d
191, 193 (10th Cir. 1934), remanding on other grounds a
Memorandum Opinion of the Board of Tax Appeals; Cupler v.
Commissioner, 64 T.C. 946, 955-956 (1975); Estate of Scanlan v.
Commissioner, T.C. Memo. 1996-331, affd. in an unpublished
opinion 116 F.3d 1476 (5th Cir. 1997); Brigham v. Commissioner,
T.C. Memo. 1992-413.
The presumption of correctness and the burden of proof have
no bearing on our decisions in the cases at hand. There is
sufficient evidence in the record to arrive at supportable
positions on entity values and appropriate discounts, bearing in
mind that opinions of value may legitimately differ within a
reasonable range. See Silverman v. Commissioner, supra at 933;
Alvary v. United States, 302 F.2d 790, 795 (2d Cir. 1962).
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