- 29 -
U.S. 68, 73 (1965), Congress, and not the Commissioner,
prescribes the tax laws, so that if indeed Rev. Rul. 76-28 and
its ruling letter progeny are inconsistent with the thrust of
section 404(a)(6), they must give way to the statute. See also
Chevron, U.S.A. v. Natural Res. Def. Council, 467 U.S. 837, 842-
843 (1984).
We have considered petitioner's remaining arguments, which
are basically variations on a theme, and find them equally
unpersuasive.
We hold that petitioner's grace period contributions, except
those that relate to hours worked in January, 1986, are not on
account of petitioner's taxable year ended February 2, 1986, as
required by section 404(a)(6), and are therefore not deductible
in that year.
To reflect the foregoing and issues previously resolved,
Decision will be entered
under Rule 155.
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