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Court authority, and the decision by the Court of Appeals for the
Eleventh Circuit in Bokum v. Commissioner, 992 F.2d 1136 (11th
Cir. 1993), affg. T.C. Memo. 1990-21.
With respect to lack of similarity, the facts in Continental
Equities, Inc. v. Commissioner, supra, would not appear to
present a scenario for potential application of equitable
recoupment in the sense in which the doctrine has been defined
and used in our recent opinions. The failure or inability of the
four related corporations to claim correlative deductions for
interest as a result of a section 482 adjustment to the income of
the taxpayer, as in Continental Equities, Inc. v. Commissioner,
supra, is of a different genre than the type of inconsistent
treatment presented in cases such as Estate of Branson v.
Commissioner, 113 T.C. 6 (1999), Estate of Bartels v.
Commissioner, 106 T.C. 430 (1996), and Estate of Mueller v.
Commissioner, 101 T.C. 551 (1993).
As regards the ensuing time and developments, more than 2
decades have passed since the 1977 decision in Continental
Equities, Inc. v. Commissioner, 551 F.2d 74 (5th Cir. 1977). In
that interval, the concept of Tax Court jurisdiction has been
substantially refined. Concerning equitable recoupment in
particular, the opinion by the Supreme Court in United States v.
Dalm, 494 U.S. 596 (1990), which served as a catalyst for our own
reevaluation of our position, was issued only in 1990.
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