- 5 -
also affirmed this Court’s holdings on five of the six
substantive issues (listed above). The Court of Appeals for the
Seventh Circuit reversed this Court’s holding that Kanter was not
entitled to deduct expenses incurred with regard to his
activities involving a painting of George Washington. Id. at
854-857.
In Estate of Lisle v. Commissioner, 341 F.3d 364 (5th Cir.
2003), the Court of Appeals for the Fifth Circuit affirmed in
part and reversed in part. The Court of Appeals reversed this
Court’s holding that there was sufficient evidence to sustain
respondent’s determination that the Estate of Lisle was liable
for additions to tax for fraud. On the other hand, the Court of
Appeals upheld this Court’s holding that the Estate of Lisle was
liable for the deficiencies in dispute.
Ballard and the Estate of Kanter filed petitions for
certiorari with the Supreme Court. In Ballard v. Commissioner,
544 U.S. 40, __, 125 S. Ct. 1270, 1286 (2005), the Supreme Court
reversed the judgments of the Courts of Appeals for the Seventh
and Eleventh Circuits in Estate of Kanter and Ballard, and
remanded those cases “for further proceedings consistent with
this opinion.” Specifically, the Supreme Court held that the
collaborative process that this Court employed before filing its
Memorandum Opinion in Inv. Research Associates, Ltd. v.
Commissioner, T.C. Memo. 1999-407, was inconsistent with the
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