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deficiency that is attributable to the disallowance of the
$35,234,914 short-term capital loss that was claimed on
petitioner's income tax return for 1993. Moreover, consistent
with the statutory definition of a deficiency set forth in
section 6211(a),8 it is clear that the rejection of petitioner's
amended returns for 1990 and 1991, which amended returns were
filed after the issuance of the notice of deficiency for those
years, does not convert the disallowed claims for refund into
deficiencies for those years. See, e.g., Koch v. Alexander, 561
F.2d 1115, 1117-1118 (4th Cir. 1977).
Petitioner also contends that it is anomalous to permit
respondent to reject petitioner's amended returns for 1990 and
1991 under the circumstances presented herein when petitioner
could have achieved the desired result; i.e., an immediate refund
attributable to the carryback of the net short-term capital loss
from 1993 to 1991, simply by filing an application for a
tentative carryback adjustment pursuant to section 6411.
However, we are reminded of the familiar principle that "a
8 Sec. 6211(a) defines a deficiency as the amount by which
the tax imposed on a taxpayer for a particular taxable year
exceeds the excess of--
(1) the sum of
(A) the amount shown as the tax by the taxpayer upon
his return * * * plus
(B) the amounts previously assessed (or collected
without assessment) as a deficiency, over--
(2) the amount of rebates * * * .
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