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respect of the impact of net operating losses on the percentage
of income method was rejected. If petitioner had done so,
respondent and the Court would have had an opportunity to
consider the appropriateness of a motion for summary judgment by
either party and the possibility that the issue of the validity
of respondent's regulations should have been disposed of by way
of a motion to sever such issue.
The long and the short of the matter is that it is simply
too late for petitioner to claim the use of the experience method
of calculating the additions to its bad debt reserves for
purposes of computing the deficiencies for the years at issue.
In view of the foregoing, respondent's computation for entry
of decision is adopted. Additionally, petitioner's motion to
amend its petition to raise the experience method issue will be
denied.
Decision will be entered in
accordance with respondent's
computation.
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Last modified: May 25, 2011