ICI Pension Fund v. Commissioner
United States Tax Court
During 1991 and 1992, F, a non-U.S. pension fund, received dividends from U.S. corporations, net of U.S. income tax that was withheld thereon.
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During 1991 and 1992, F, a non-U.S. pension fund, received dividends from U.S. corporations, net of U.S. income tax that was withheld thereon. Relying on sec. 1.6012-1(b)(2)(i), Income Tax Regs., F did not file tax returns for those years, taking the position that its "tax liability * * * [was] fully satisfied by the withholding of tax at source". On Aug. 12, 1992, and June 28, 1993, F claimed refunds of the amounts withheld for 1991 and 1992, respectively, alleging it was tax exempt. R refunded the amount of tax withheld for 1991 on or about Aug. 27, 1992, and refunded the amount withheld…
1Opinion of the Court
OPINION
Laro, Judge:
ICI Pension Fund, ICI Pensions Trustee Limited, Trustee, moves for summary judgment, asserting that section 6501 does not allow respondent to assess tax for either year in issue. Respondent moves for partial summary judgment, asserting primarily that the notices of deficiency are timely under section 6501(c)(3). Respondent issued the notices of deficiency to ICI Pension Fund, ICI Pensions Trustee Limited, Trustee, on December 19, 1996, after determining deficiencies in the 1991 and 1992 income tax of ICI Pension Fund (fund).
We must decide whether the notices of deficiency…
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