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for the Third Circuit held that a corporate taxpayer that was
specifically exempted from the application of section 1275(b) of
TRA 1986 by section 1277(c)(2)(D) of TRA 1986 remained liable to
the BIR for tax on its worldwide income. The Court of Appeals
for the Ninth Circuit affirmed our decision with respect to the
timeliness of the notice of deficiency.4 See Condor Intl., Inc.
v. Commissioner, 78 F.3d at 1258-1359. Petitioner has not
advanced any argument that would cause us not to follow our prior
holding in Condor Intl., Inc. v. Commissioner, supra, or that of
the Court of Appeals for the Ninth Circuit to which the instant
case is appealable, absent stipulation to the contrary.
Accordingly we shall grant respondent's motion for partial
summary judgment and deny petitioner's motion for partial summary
judgment.
We have considered the parties' remaining arguments and find
them irrelevant or unnecessary to reach.
To reflect the foregoing,
An appropriate order will be
issued.
4 The Court of Appeals for the Ninth Circuit reversed the
decision of this Court with regard to the imposition of additions
to tax. See Condor Intl., Inc. v. Commissioner, 78 F.3d 1355,
1360 (9th Cir. 1996), affg. in part and revg. in part 98 T.c. 203
(1992). In the instant case, respondent has conceded that
petitioner is not liable for any of the additions to tax set
forth in the notice of deficiency.
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