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We have found support for our holding that we have authority
to apply equitable recoupment in section 6214(b).5 The
concluding language of section 6214(b), which speaks in terms of
this Court's not having "jurisdiction to determine whether or not
the tax for any other year or calendar quarter has been overpaid
or underpaid" (emphasis added), means that, at most, we are
precluded from determining the income tax or gift tax for any
prior period. See Estate of Bartels v. Commissioner, 106 T.C. at
434. In redetermining the amount of the estate tax deficiency in
this case, we are not determining the amount of income tax or
gift tax deficiency or overpayment from any prior period. See
id. We are considering such facts with relation to the share
value included in both corpus and income so that this item6 may
be examined in all its aspects, as is necessary to correctly
5Sec. 6214(b) provides:
The Tax Court in redetermining a deficiency of income
tax for any taxable year or of gift tax for any
calendar year or calendar quarter shall consider such
facts with relation to the taxes for other years or
calendar quarters as may be necessary correctly to
redetermine the amount of such deficiency, but in so
doing shall have no jurisdiction to determine whether
or not the tax for any other year or calendar quarter
has been overpaid or underpaid.
6See infra pp.17-18.
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