Eaton Corp. v. Comm'r
United States Tax Court
P and R entered into two advance pricing agreements (APAs) establishing a transfer pricing methodology for covered transactions between P and its subsidiaries. P and R agreed in the APAs that the APAs' legal effect and administration were governed by certain revenue procedures. R determined P did not comply with the applicable terms and canceled the APAs. R issued P a deficiency notice and applied an alternative transfer pricing methodology. P filed a petition.
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P and R entered into two advance pricing agreements (APAs) establishing a transfer pricing methodology for covered transactions between P and its subsidiaries. P and R agreed in the APAs that the APAs' legal effect and administration were governed by certain revenue procedures. R determined P did not comply with the applicable terms and canceled the APAs. R issued P a deficiency notice and applied an alternative transfer pricing methodology. P filed a petition. P contends the APAs are enforceable contracts. P asserts R must show that he was entitled to cancel the APAs. R asserts he canceled…
1Opinion of the Court
OPINION
Kroupa, Judge:
This matter is before the Court on cross-motions for partial summary judgment under Rule 121.1 The parties agree on the basic facts necessary to resolve a discrete issue of law. Petitioner and respondent entered into two advance pricing agreements (APAs) that set a transfer pricing methodology for certain transactions under section 482 (APAs at issue). Respondent later canceled the APAs at issue after concluding that petitioner failed to comply with their terms and conditions (cancellations). Respondent issued petitioner a deficiency notice and adjusted petitioner’s…
2Cases cited18 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Naftel v. CommissionerUnited States Tax Court · 1985
- Greenberg's Express, Inc. v. CommissionerUnited States Tax Court · 1974
- Mailman v. CommissionerUnited States Tax Court · 1988
- Commissioner v. EngleSupreme Court of the United States · 1984
13 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Eaton Corp. v. Comm'rUnited States Tax Court · 2013
- Eaton Corporation and Subsidiaries v. CommissionerUnited States Tax Court · 2019
- Eaton Corporation and Subsidiaries v. CommissionerUnited States Tax Court · 2013
- Michael C. Giambrone v. CommissionerUnited States Tax Court · 2020
- The Coca-Cola Company and Subsidiaries v. CommissionerUnited States Tax Court · 2020