-9-
115 Cong. Rec. 38,297-38,298 (1969) (statement of Sen. Miller).
We have considered all of petitioner's other arguments and
find none persuasive.
In conclusion, we hold that the amount of the section 56(c)
deduction is limited to the amount of regular tax imposed on the
consolidated taxable income of the affiliated group.
An order granting respondent's
motion for partial summary judgment
and denying petitioner's cross-motion
will be issued.
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