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Southern Pac. Co. v. Commissioner, supra. Accordingly, Acme was
not an authorized recipient of the tentative refunds. We believe
that the result we reach today is consistent with, and a logical
extension of, the rationale underlying our earlier decisions in
Southern Pac. Co. v. Commissioner, supra, and Union Oil Co. v.
Commissioner, supra.
Consequently, we hold that the tentative refunds are
nonrebate refunds with respect to petitioner and the group for
purposes of computing the group's deficiencies for 1981 and 1984.
Therefore, respondent cannot seek recovery of the tentative
refunds from petitioner through the deficiency procedures.
We have considered the parties' remaining arguments and find
them to be either without merit or unnecessary to reach.
To reflect the foregoing,
An appropriate order
will be issued.
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