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of Appeals for the Sixth Circuit affirmed but did so on the
grounds that we lacked jurisdiction to apply the doctrine. See
Estate of Mueller v. Commissioner, 153 F.3d at 307.
In Estate of Branson v. Commissioner, supra at 10-11,
however, we expressly considered the ruling by the Court of
Appeals for the Sixth Circuit. We declined then to alter our
stand on the issue of equitable recoupment for the reasons
previously discussed and, believing these reasons still valid, we
likewise decline to do so now. Thus, in accordance with the
position of this Court regarding our authority to grant equitable
recoupment relief, and with respondent’s concession that
petitioners meet the requirements of the defense, petitioners
would be entitled to recoup the barred estate tax overpayment
against the stipulated income tax deficiencies. We therefore
turn to whether, under the rule of Golsen v. Commissioner, 54
T.C. 742 (1970), the decision by the Court of Appeals for the
Fifth Circuit in Continental Equities, Inc. v. Commissioner, 551
F.2d 74 (5th Cir. 1977), demands a contrary result.
C. The Golsen Rule and the Eleventh Circuit
In Golsen v. Commissioner, supra at 757, this Court
established the rule that we shall “follow a Court of Appeals
decision which is squarely in point where appeal from our
decision lies to that Court of Appeals” (the Golsen rule). We
subsequently have further clarified the doctrine’s reach,
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