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petitioner gave to his accountant in support of the claimed
casualty loss deduction. Respondent notes petitioner’s claim in
the document of a loss of about $156,000 resulting from damage to
two buildings that rendered them completely useless, compared
with petitioner’s claim in the lawsuit against Atlas of a loss of
about $68,000 resulting from damage to one building. However,
respondent discussed this discrepancy in his trial memorandum,
which was served on petitioner more than 2 weeks before trial.
As further support for fraud, respondent cites the
discrepancy between petitioner’s claim in the document given to
his accountant that the Property’s two masonry buildings were
over 50 years old and rendered useless by the collapse, with
petitioner’s claim in a document given to the local board of
property assessment appeals (before the collapse) that the same
buildings were over 100 years old and not safe for use. However,
respondent almost certainly had both documents before trial. The
document petitioner gave his accountant had, at a minimum, been
exchanged prior to trial,13 and the document given to the board
of assessment appeals was mailed to respondent’s counsel more
than 2 weeks before trial.
13 Respondent did not cite any failure to receive this
document in advance of trial when petitioner sought to have it
admitted, whereas respondent did object to several other
documents on this ground.
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