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and the separate entity method reflected therein do not apply to
ineligible nonlife companies that previously constituted an
affiliated and consolidated group.
Petitioners’ arguments that are based on certain material in
the Treasury’s administrative files under section 1.1502-47(m)(3)
and (4), Income Tax Regs., are not persuasive. The documents
from the administrative files are not compelling, consistent, or
clear as to the intended treatment of losses of ineligible
nonlife companies that constituted part of a previously
affiliated and consolidated group. Also, the relied-upon
material from the administrative files reflects generally only
personal views of various government representatives, not
official statements of respondent or of the Treasury. See Armco,
Inc. v. Commissioner, 87 T.C. 865, 867-868 (1986).
In any event, personal views of such government
representatives would not be able to overcome the particular
statutory and regulatory scheme before us in these cases. In
light of this statutory and regulatory scheme, petitioners’
alleged factual matter in dispute (namely, the intent of such
government representatives) is simply not sufficiently relevant
to the resolution of the issue to give rise to a genuine issue of
material fact. Rule 121(b).
We emphasize that section 1503(c)(1) provides that nonlife
losses may be taken into account only “under regulations
prescribed by the Secretary”. Assuming arguendo that the above
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