- 10 - respectively. Respondent also determined in the notice to disallow the deductions petitioner claimed in its 1990 return of $9,610 and $25,000, respectively, for “outside services” and contributions to petitioner’s pension and/or profit sharing plan. Discussion The Court may grant summary judgment where there is no genuine issue of material fact and a decision may be rendered as a matter of law. Rule 121(b); Sundstrand Corp. v. Commissioner, 98 T.C. 518, 520 (1992), affd. 17 F.3d 965 (7th Cir. 1994). All of the facts on which respondent relies in respondent’s motion have been deemed admitted. Those facts include the material facts on which we may proceed to resolve the issues in respondent’s motion, including the issue relating to the fraud penalties under section 6663(a), see, e.g., Doncaster v. Commis- sioner, 77 T.C. 334, 337 (1981). We conclude that there are no genuine issues of material fact regarding the issues raised in respondent’s motion. With respect to respondent’s determinations that petitioner has a deficiency in tax for each of the years at issue, on the 4(...continued) notice petitioner understated its gross receipts for 1991 is wrong due to mathematical errors by respondent, including respon- dent’s mathematical error noted above. The correct amount by which petitioner understated its gross receipts for 1991 is $209,252. Respondent’s mathematical errors in the notice shall be corrected in the parties’ computations under Rule 155.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Next
Last modified: May 25, 2011