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in the record that Mr. Wellman, the author of that letter, was
involved in any way with the filing of the 1993 Form 4868 in
April 1994 or was otherwise involved in petitioners’ affairs at
that time. Had petitioners gone to trial, they presumably could
have elicited the testimony of Mr. Chambers (the C.P.A. whose
signature appears on the 1993 Form 4868) regarding the
circumstances that allegedly rendered their 1993 tax liability
inestimable as of April 1994. Because petitioners chose not to
do so, we may presume that such testimony would have been
unfavorable to them. See, e.g., ASAT, Inc. v. Commissioner, 108
T.C. 147, 172 (1997) (citing Wichita Terminal Elevator Co. v.
Commissioner, 6 T.C. 1158, 1165 (1946), affd. 162 F.2d 513 (10th
Cir. 1947)). Relying on the C.P.A. letter, petitioners have
failed to convince us that, as of April 1994, their 1993 tax
liability was inestimable and the 1994 remittance was intended as
a deposit.
3. Inconsistencies Between the C.P.A. Letter and
Petitioners’ 1993 Return
Moreover, the C.P.A. letter itself does not square with
information from petitioners’ 1993 return contained in the
record. For instance, the 1993 return belies the assertion in
the C.P.A. letter that petitioners’ ignorance of their 1993 tax
liability in April 1994 was attributable to the sale of their
business in, and “numerous other complicated transactions
during”, 1993. The only sale referenced in the 1993 return is an
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