Herbst Asset Management Trust, et al. - Page 2




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          9999-00), respondent’s motion to hold petitioner in default in              
          the case at docket No. 10000-00 (respondent’s motion in the case            
          at docket No. 10000-00), respondent’s motion to dismiss for lack            
          of prosecution and to impose sanctions under section 66732 in the           
          case at docket No. 10001-00 (respondent’s motion in the case at             
          docket No. 10001-00), and respondent’s motion to dismiss for lack           
          of prosecution and to impose sanctions under section 6673 in the            
          case at docket No. 10002-00 (respondent’s motion in the case at             
          docket No. 10002-00).  (We shall refer collectively to those four           
          motions as respondent’s motions.)  At the request of respondent,            
          on October 15, 2001, the Court held a trial in order to enable              
          respondent to present evidence to satisfy the burden of produc-             
          tion under section 7491(c) that respondent maintains respondent             
          has with respect to:  (1) The accuracy-related penalty under                
          section 6662(a) that respondent determined for each of the                  
          taxable years 1996 and 1997 in the notice of deficiency (notice)            
          issued to Herbst Asset Management Trust (Herbst Management                  
          Trust)3 in the case at docket No. 9999-00; (2) the addition to              
          tax under section 6651(a)(1) for each of the taxable years 1996             


               2All section references are to the Internal Revenue Code               
          (Code) in effect at all relevant times.  All Rule references are            
          to the Tax Court Rules of Practice and Procedure.                           
               3When referring in this Opinion to Herbst Asset Management             
          Trust and Herbst Management Trust, our use of the word “Trust”              
          and any similar words is for convenience only and is not intended           
          to convey any meaning or have any significance for Federal tax              
          purposes.                                                                   





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