-15- object. Freedman v. Commissioner, 71 T.C. 564 (1979); see, e.g., Loftus v. Commissioner, 90 T.C. 845, 861 (1988), affd. without published opinion 872 F.2d 1021 (2d Cir. 1989). This is true of Federal courts generally, and not merely because of some special characteristic of this Court. Bender v. Williamsport Area School Dist., 475 U.S. 534, 541 (1986). Thirdly, a legislative regulation, which is issued pursuant to a specific congressional grant of authority to the Secretary of the Treasury, is entitled to greater deference than an interpretive regulation, which is promulgated under the general rulemaking power vested in the Secretary by section 7805(a). Peterson Marital Trust v. Commissioner, 102 T.C. 790, 797-798 (1994), (and cases cited therein), affd. 78 F.3d 795, 798 (2d Cir. 1996). Section 1.7476-1(b), Income Tax Regs. (relating to interested parties), has been promulgated under the specific instruction in section 7476(b)(1) that a person who wishes to be an employee party-petitioner in a section 7476 declaratory judgment proceeding must be one “who has qualified under regulations prescribed by the Secretary as an interested party for purposes of pursuing administrative remedies within the Internal Revenue Service”. Accordingly, this regulation is a legislative regulation. To be valid, section 1.7476-1(b), Income Tax Regs., need not be the only, or even the best, construction of section 7476(b)(1). See Atlantic Mutual Ins. Co. v.Page: Previous 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Next
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