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and no additional tax has been assessed against UCFSC for the
aforementioned years.
On December 12, 1996, the parties held a telephone
conference call with the Court in which it was agreed that the
threshold issue of whether or not petitioner had timely asserted
its claims for additional FSC commission expenses under the
Regulation would be considered apart from the substantive merits
of those recomputations. On the basis of that discussion,
petitioner filed its motion, and respondent filed its cross-
motion, for partial summary judgment with respect to the
threshold issue, along with supporting memoranda of law.
Discussion
Petitioner asks us to find overpayments of taxes for its
1987, 1988, and 1989 tax years, respectively, based on its
recomputation of the commissions payable to its foreign
subsidiary, UCFSC, during those years pursuant to section 925(a)
and attendant regulations. We have jurisdiction to determine the
amounts of any overpayments with respect to petitioner's 1987,
1988, and 1989 tax years since respondent has determined a
deficiency for each of those years. Sec. 6512(b); Barton v.
Commissioner, 97 T.C. 548, 552 (1991). We must first decide
whether the Regulation precludes petitioner from claiming
additional FSC commission expenses for the years in issue. If we
hold that it does, we must then decide whether the Regulation is
valid.
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