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Trial Judge Peter J. Panuthos. His recommended findings of fact
and conclusions of law were filed and served upon the parties on
October 5, 2006. There were no objections filed as provided in
Rule 183(c). Unless otherwise indicated, all section references
are to the Internal Revenue Code as amended and in effect for the
years in issue, and all Rule references are to the Tax Court
Rules of Practice and Procedure.
Rule 183(d) provides that due regard shall be given to the
circumstance that the Special Trial Judge had the opportunity to
evaluate the credibility of witnesses, and the findings of fact
recommended by the Special Trial Judge shall be presumed to be
correct. None of the issues in these cases, however, turns on
the credibility of witnesses. We have given appropriate
deference to the Chief Special Trial Judge’s recommended factual
findings. After consideration of the evidence and the record in
these cases, we have made minor, clarifying, stylistic, and
editorial changes to his recommended findings of fact and
conclusions of law. We conclude that the recommended findings of
fact and conclusions of law of Chief Special Trial Judge Peter J.
Panuthos, which are hereinafter set forth as modified, should be
adopted as the report of the Court.
These cases were consolidated by Order of this Court dated
February 13, 2006. The case at docket No. 23649-04 arises from a
petition filed in response to a notice of deficiency issued on
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