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Agent Messecca testified that he prepared the notice of
deficiency as directed by Special Agent Hill using the schedule
prepared by Mr. Mulcahy and the tax returns filed by petitioner
and Petito Corp. for 1992. On the record presented, the Court
denied petitioner’s motion for reconsideration on the ground
that, although the notice of deficiency may have been incorrect,
it was not invalid for the purpose of invoking the Court’s
jurisdiction.
On September 28, 2001, the District Court granted the
Government’s motion to dismiss the indictment filed against
petitioner.
On November 16, 2001, respondent filed with the Court a
status report stating that respondent would concede the instant
case. On February 21, 2002, the parties filed a stipulation of
settled issues stating that petitioner is not liable for any
deficiency, addition to tax, or penalty, nor is petitioner
entitled to an overpayment for the taxable year 1992.
Discussion
We apply section 7430 as amended by Congress in the Internal
Revenue Service Restructuring and Reform Act of 1998, Pub. L.
105-206, sec. 3101, 112 Stat. 685, 727.
Under section 7430(a), a judgment for litigation costs
incurred in connection with a court proceeding may be awarded
only if a taxpayer: (1) Is the prevailing party; (2) has
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