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unless wrongful misleading conduct or mutual mistake is shown,
Stamm Intl. Corp. v. Commissioner, 90 T.C. 315, 321-322 (1988),
or unless justice requires that we relieve a party of the
stipulation, Rule 91(e); Korangy v. Commissioner, 893 F.2d 69
(4th Cir. 1990), affg. T.C. Memo. 1989-2; Adams v. Commissioner,
85 T.C. 359, 375 (1985).
Petitioner did not contend on brief that he should not be
bound by the stipulation of settled issues. Thus, we deem that
issue to be waived. State Farm Fire & Cas. Co. v. Mhoon, 31 F.3d
979, 984 n.7 (10th Cir. 1994); Burbage v. Commissioner, 82 T.C.
546, 547 n.2 (1984), affd. 774 F.2d 644 (4th Cir. 1985); Wolf v.
Commissioner, T.C. Memo. 1992-432, affd. 13 F.3d 189 (6th Cir.
1993).
Even if petitioner still sought relief from the stipulation
of settled issues, he would not prevail because he has not shown
that manifest injustice will result if we enforce the stipulation
of settled issues or that the settlement was the result of mutual
mistake. We conclude that petitioner is bound by the stipulation
of settled issues.
B. Whether We Have Jurisdiction To Decide Whether Petitioner
Incurred Losses From Arcanum
1. TEFRA Partnership Procedures
Respondent contends that we lack jurisdiction to decide
whether petitioner incurred losses from Arcanum because,
respondent contends, Arcanum is subject to the unified
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