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granted with respect to all or any part of the legal issues in
controversy “if the pleadings, answers to interrogatories,
depositions, admissions, and any other acceptable materials,
together with the affidavits, if any, show that there is no
genuine issue as to any material fact and that a decision may be
rendered as a matter of law.” Rule 121(b); Stubbs v.
Commissioner, 797 F.2d 936 (11th Cir. 1986). Respondent asserts
that there are material facts in dispute with respect to
petitioner’s satisfaction of certain tests to qualify for the
reserve method in dispute and thus argues that only partial
summary judgment is appropriate if we agree with petitioner’s
interpretation of relevant statutes and regulations. The facts
material to the Court's disposition of the cross-motions for
summary judgment are stated solely for purposes of deciding the
motions and are not findings of fact for these cases. See
Sundstrand Corp. v. Commissioner, 98 T.C. 518, 520 (1992), affd.
17 F.3d 965 (7th Cir. 1994).
Background
During the taxable years 1986 through 1994, Barnett Banks,
Inc. (Barnett), was an accrual basis bank holding company
organized and existing under the laws of the State of Florida,
with its principal place of business in Jacksonville, Florida.
On January 9, 1998, Barnett merged into NB Holdings, a subsidiary
of NationsBank Corp., and thereafter was a wholly owned
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