- 3 - all Rule references are to the Tax Court Rules of Practice and Procedure. Background This case was submitted on a stipulation of facts and supplemental stipulation of facts, and the stipulated facts are incorporated in our findings by this reference. Petitioner resided in Austin, Texas, at the time that he filed his petition. Petitioner’s Investment in the Pay Phones On June 7, 2001, petitioner entered into a contract with American Telecommunications Co., Inc. (ATC), a wholly owned subsidiary of Alpha Telcom, Inc. (Alpha Telcom), entitled “Telephone Equipment Purchase Agreement” (ATC pay phone agreement). Under the terms of the ATC pay phone agreement, petitioner paid $10,000 to ATC, and ATC provided him with legal title to the “telephone equipment” that was purportedly described in an attachment to the ATC pay phone agreement entitled “Telephone Equipment List”. The attachment, however, did not identify any pay phones subject to the agreement. The ATC pay phone agreement also included the following provision: 1. Bill of Sale and Delivery a. Delivery by Seller shall be considered complete upon delivery of the Equipment to such place(s) as are designated by Owner. b. Owner agrees to take delivery of Equipment within (15) fifteen business days. If Seller has not delivered the equipment within (90) ninety days, OwnerPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011