Tax Court Won’t Reconsider Eaton Transfer Pricing Penalty Decision
Eaton Corp. et al. v. Commissioner
- Case NameEaton Corp. et al. v. Commissioner
- CourtUnited States Tax Court
- DocketNo. 5576-12
- JudgeKerrigan, Kathleen
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2020-822
- Tax Analysts Electronic Citation2020 TNTI 6-172020 TNTG 6-212020 TNTF 6-29
Eaton Corp. et al. v. Commissioner
EATON CORPORATION AND SUBSIDIARIES,
Petitioner(s),
v.
COMMISSIONER OF INTERNAL REVENUE,
Respondent
UNITED STATES TAX COURT
WASHINGTON, DC 20217
ORDER
In the Court's Opinion, Eaton Corp. & Subs. v. Commissioner, 153 T.C. __, __ (October 28, 2019)1,we held petitioner is not liable for penalties pursuant to section 6662(a), (b)(3), (e), and (h) for tax years 2005 and 20062. The parties have not yet submitted computations pursuant to Rule 155. On November 27, 2019, respondent filed a motion for reconsideration of findings or opinion pursuant to Rule 161. On December 23, 2019, petitioner filed an opposition to respondent's motion.
The decision to grant a motion to reconsider lies within the discretion of the Court. Estate of Quick v. Commissioner, 110 T.C. 440, 441 (1998). Reconsideration is intended to correct substantial errors of fact or law and allow the introduction of newly discovered evidence that the moving party could not have introduced by the exercise of due diligence in the prior proceeding. Knudsen v. Commissioner, 131 T.C. 185, 185 (2008).
In our prior Opinion, Eaton Corp. & Subs. v. Commissioner, 153 T.C. at __, we concluded that there were no net section 482 transfer price adjustments. Respondent contends in his motion to reconsider that the Court erred in concluding there were no section 482 adjustments. Respondent's motion raises previously unsuccessful arguments which were addressed in our Opinion and those arguments do not merit reconsideration.
Because respondent has failed to establish grounds as to why this Court should reconsider its Opinion, it is
ORDERED that respondent's motion for reconsideration of findings or opinion pursuant to Rule 161, filed November 27, 2019, is denied.
(Signed) Kathleen Kerrigan
Judge
Dated: Washington, D.C.
January 7, 2020
- Case NameEaton Corp. et al. v. Commissioner
- CourtUnited States Tax Court
- DocketNo. 5576-12
- JudgeKerrigan, Kathleen
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2020-822
- Tax Analysts Electronic Citation2020 TNTI 6-172020 TNTG 6-212020 TNTF 6-29