- 93 -
1504(a)(1)(B) and (2)(B) was satisfied for 1985 and 1986.
Consequently, we hold that for 1984 and for 1985 and 1986 peti-
tioners were not members of the affiliated group within the
meaning of section 1504(a) and amended section 1504(a), respec-
tively, that had Amax as its common parent.30 Accordingly, we
sustain respondent's determination that petitioners are not
entitled to join in the consolidated return that Amax filed for
each of those years in which it claimed to be the common parent
of a group of corporations that included petitioners.31
Period of Limitations
Petitioners argue that even if the Court were to find that
petitioners are not entitled to join in the consolidated return
that Amax filed for each of the years 1984, 1985, and 1986, the
respective periods of limitations for those years for assessing
tax due from petitioners' group have expired. Respondent argues
that section 1.1502-77(c)(2), Income Tax Regs., rejects petition-
ers' contention. That regulation provides:
(c) Effect of waiver given by common parent.
30 We note that the issue presented here under sec. 1504(a) and
amended sec. 1504(a) turns on the particular facts established by
the record in this case, and nothing in this Opinion is intended
to be, or should be read as, deciding or implying any finding or
conclusion of this Court under that section in other cases
involving facts that may appear to be similar to those presented
in the present case.
31 In reaching our holding, we have considered all of petition-
ers' arguments that are not discussed herein and found them to be
without merit.
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