- 190 - a tax basis of $338,665. The condensate polisher tie line was placed in service during the 1989 and 1990 taxable years with tax bases of $3,826,317 and $388,906, respectively. The instrument air upgrade property was placed in service during the 1988, 1989, and 1990 taxable years with tax bases of $1,541,721, $1,717,941, and $316,912, respectively. Respondent argues that petitioner fails to satisfy the written specific plan requirement because the one-page plot plan does not specifically identify the “backfit” items at the St. Lucie Units 1 and 2. We conclude that petitioner failed to introduce a “written specific plan” for the “backfit” items. Although the parties stipulate that the one-page plot plan constituted construction plans for the St. Lucie Units 1 and 2, petitioner has failed to prove that the plan satisfies the specificity required by TRA section 203(b)(1)(C). Mr. Paduano, a retired FPL manager,130 testified that the construction plan identifies “the top view of the power plant showing the major buildings and some of the major equipment and the general layout locations of those equipments and buildings”; however, he further testified that this document does not specifically identify the “backfit” items at issue. Mr. Paduano testified that petitioner constructed St. Lucie Units 1 and 2 using “tens of thousands of drawings for this site plan”; 130 Mr. Paduano worked on a “broad area of projects”, primarily resolving “technical issues and plan modifications and backfit.”Page: Previous 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 Next
Last modified: May 25, 2011