Bank One Corporation - Page 88

                                        -170-                                         
          counsel has already acknowledged this fact and, in any case, has            
          raised this issue untimely and in contravention of our pretrial             
          order dated August 14, 2000.                                                
               As to the acknowledgment, the following colloquy occurred              
          between the Court and the parties at the beginning of trial:                
                    THE COURT: * * * let me just make sure that                       
                    the Court’s understanding that the burden of                      
                    proof in this case is on the Petitioner.  Is                      
                    that a correct understanding?                                     
                    MR. SCHIFFMAN:  Yes, Your Honor.                                  
                    THE COURT:  Counsel?                                              
                    MS. GILBERT:  Yes, Your Honor.                                    
          It was only when petitioner filed its brief with the Court that             
          it argued for the first time that the burden of proof was on                
          respondent.  Petitioner’s raising of this issue in its brief was            
          untimely, prejudicial to respondent, and in violation of the                
          referenced pretrial order.  See Estate of Maggos v. Commissioner,           
          T.C. Memo. 2000-129.                                                        
               Even if the issue as to the burden of proof was properly               
          before the Court, the notices of deficiency were neither                    
          arbitrary nor excessive under the facts at hand, including,                 
          especially, that petitioner failed during the audit to provide to           
          respondent adequate substantiation to support its return                    
          position.  In Mitchell v. Commissioner, 416 F.2d 101 (7th Cir.              
          1969), affg. T.C. Memo. 1968-137, for example, a taxpayer who               
          lacked adequate records argued that the burden of proof was on              





Page:  Previous  160  161  162  163  164  165  166  167  168  169  170  171  172  173  174  175  176  177  178  179  Next

Last modified: May 25, 2011