Intel Corporation and Consolidated Subsidiaries - Page 2

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               interest from being imposed on the deficiency without                  
               reduction by a foreign tax carryback from a subsequent                 
               year.  Held, further, the interest on the deficiency                   
               amounts eliminated by the carryback from 1981 stops                    
               accruing as of the end of 1981, and the interest on the                
               deficiency amount eliminated by the carryback from 1982                
               stops accruing as of the due date of the 1982 return.                  
               Cf. sec. 6611(g) (now sec. 6611(f)(2)), I.R.C. 1954,                   
               prior to and after the Tax Equity and Fiscal                           
               Responsibility Act of 1982, Pub. L. 97-248, sec.                       
               346(c), 96 Stat. 637.                                                  


               Joel V. Williamson, Wayne S. Kaplan, Thomas L. Kittle-Kamp,            
          Marjorie M. Margolies, and Robert H. Perlman, for petitioner.               
               Beth L. Williams and Ewan D. Purkiss, for respondent.                  


                                SUPPLEMENTAL OPINION                                  
               TANNENWALD, Judge:  A decision was entered in this case on             
          December 9, 1993, pursuant to a stipulated computation, in                  
          accordance with this Court's opinion, Intel Corp. v.                        
          Commissioner, 100 T.C. 616 (1993), affd. 67 F.3d 1445 (9th Cir.             
          1995), amended and superseded 76 F.3d 976 (9th Cir. 1996).  On              
          May 9, 1997, petitioner filed a motion under section 7481(c)1 and           
          Rule 261 to redetermine interest on the deficiencies for the 1979           
          and 1980 taxable years.                                                     


          1  We refer to sec. 7481(c) of the Internal Revenue Code as in              
          effect at the time petitioner's motion was filed.  Unless                   
          otherwise indicated, all other section references are to the                
          Internal Revenue Code in effect for the taxable years in issue,             
          and all Rule references are to the Tax Court Rules of Practice              
          and Procedure.                                                              




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