Van Der aa Investments, Inc., A Dissolved Delaware Corporation, Terry L. Van Der aa, Trustee - Page 10

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          form of a report as to scientific, technical, or other                      
          specialized matters and would allow an expert to express his                
          opinion in a report without being subject to cross-examination on           
          the facts and data underlying that opinion.  All that would be              
          required for admission would be the mere showing that the                   
          preparer was in the business of giving such opinions.  If the               
          valuation report were offered into evidence by petitioner as                
          evidence of fair market value of Vancom Inc., we would not accept           
          the report without the accompanying availability of the author              
          for cross-examination.4  E.g., Pack v. Commissioner, T.C. Memo.             
          1980-65.                                                                    
               C.  Conclusion                                                         
               Clearly, petitioner’s principal reliance on the valuation              
          report is not for the fact that Vancom, Inc., received it from              
          Arthur Andersen but for the opinion it expresses as to value.  To           
          rely on the valuation report for that purpose, petitioner must              
          introduce it into evidence; i.e., at trial or at some hearing at            
          which evidence is received.  Since we cannot accept the valuation           
          report as establishing the values it purports to determine, there           
          remains a genuine issue with respect to a material fact that                
          precludes rendering a decision as a matter of law as to whether             

               4  The character of the valuation report as opinion                    
          testimony distinguishes this situation from those in which we               
          have allowed in business records without a live witness to                  
          authenticate them.  E.g., Stang v. Commissioner, T.C. Memo. 2005-           
          154.                                                                        





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