TCI Northeast, Inc. v. Commonwealth

KELLEY, Judge.

Presently before this court are exceptions filed by the Commonwealth of Pennsylvania (Commonwealth) to our opinion and order in TCI Northeast, Inc. v. Commonwealth of Pennsylvania (No. 476 F.R.1993, filed December 27, 1995) (TCI I).1 In TCI I, this *1272court reversed an order of the Board of Finance and Revenue (board) which had upheld the settlement by the Pennsylvania Department of Revenue (Department) of the 1989 capital stock tax liability of TCI Northeast, Inc. (Taxpayer). We grant the exceptions.

The parties in this ease stipulated to the following facts. Taxpayer is a…