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partnership item may not be based upon a concession by the
other party with respect to a nonpartnership item.
Settlements shall be comprehensive, that is, a settlement
may not be limited to selected items. The requirement for
consistent settlement terms applies only if--
(1) The items were partnership items for the partner
entering into the original settlement immediately before the
original settlement, and
(2) The items are partnership items for the partner
requesting the consistent settlement at the time the partner
files the request. [Emphasis supplied.]
Participants interpret "settlements" in the regulation as
referring only to the consistent settlement terms of partnership
items. They maintain that paragraph one of the original
settlement agreement constitutes a "settlement agreement * * *
with respect to partnership items" for purposes of the consistent
settlement provisions and request settlement in accord with
paragraph one. This interpretation of section 301.6224(c)-3T(b),
Temporary Proced. & Admin. Regs., 52 Fed. Reg. 6787 (Mar. 5,
1987), is nothing more than semantical sophistry and would have
us read out of the regulation the requirement that a settlement
agreement for consistent settlement purposes cannot be based on
concessions of nonpartnership items and that a settlement may not
be limited to selected items. Where, as here, a settlement
agreement contains interrelated provisions which reflect
concessions of partnership and nonpartnership items, the
temporary regulation provides that such original settlement
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