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At the outset, we are constrained to observe that we cannot
accept petitioner's invitation to leave open the question of our
jurisdiction of its motion to redetermine interest under section
7481(c). Even where the parties fail to raise the issue, we are
required to resolve a question as to our jurisdiction on our own
initiative. Powell v. Commissioner, 96 T.C. 709, 710 (1991).
We turn first to the scope of section 7481(c), which
currently provides:
(c) Jurisdiction Over Interest Determinations.--
(1) In general.--Notwithstanding subsection
(a), if, within 1 year after the date the decision
of the Tax Court becomes final under subsection
(a) in a case to which this subsection applies,
the taxpayer files a motion in the Tax Court for a
redetermination of the amount of interest
involved, then the Tax Court may reopen the case
solely to determine whether the taxpayer has made
an overpayment of such interest or the Secretary
has made an underpayment of such interest and the
amount thereof.
(2) Cases to which this subsection applies.--
This subsection shall apply where--
(A)(i) an assessment has been made by
the Secretary under section 6215 which
includes interest as imposed by this title,
and
(ii) the taxpayer has paid the entire
amount of the deficiency plus interest
claimed by the Secretary, and
(B) the Tax Court finds under section
6512(b) that the taxpayer has made an
overpayment.
(3) Special rules.--If the Tax Court
determines under this subsection that the taxpayer
has made an overpayment of interest or that the
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