For over 50 years, Bloomberg Tax’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...
Aug. 7 — Major portions of Eaton Corp.'s transfer pricing trial in Chicago will be closed to the public, under the terms of a protective order (Eaton Corp. v. Commissioner, T.C., No. 5576-12, order, 8/5/15).
The order, granted Aug. 5 by presiding Judge Kathleen Kerrigan, is intended to protect proprietary and confidential documents and other commercial information related to Eaton's business operations that aren't in the public domain or otherwise available to third parties.
In a case of first impression, Eaton Corp. is challenging the cancellation of two advance pricing agreements covering tax years 2001-05 and 2006-10. The cancellations triggered an income adjustment of $368.6 million and tax and penalties of $127 million for tax years 2005-06.
Notify me when updates are available (No standing order will be created).
Put me on standing order
Notify me when new releases are available (no standing order will be created)