Rhone Poulenc Surfactants and Specialties, L.P. - Page 14




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                    (e)  Substantial Omission of Items.--Except as                    
               otherwise provided in subsection (c)--                                 
                         (1)  Income taxes.--In the case of any tax                   
                    imposed by subtitle A--                                           
                              (A)  General rule.--If the taxpayer                     
                         omits from gross income an amount properly                   
                         includible therein which is in excess of 25                  
                         percent of the amount of gross income stated                 
                         in the return, the tax may be assessed, or a                 
                         proceeding in court for the collection of                    
                         such tax may be begun without assessment, at                 
                         any time within 6 years after the return was                 
                         filed.  For purposes of this subparagraph--                  
                         *    *    *     *     *     *     *                          
                                   (ii)  In determining the amount                    
                              omitted from gross income, there shall                  
                              not be taken into account any amount                    
                              which is omitted from gross income                      
                              stated in the return if such amount is                  
                              disclosed in the return, or in a                        
                              statement attached to the return, in a                  
                              manner adequate to apprise the Secretary                
                              of the nature and amount of such item.                  
          In pertinent part, section 6229 provides:                                   
                    SEC. 6229(a).  General Rule.--Except as otherwise                 
               provided in this section, the period for assessing any                 
               tax imposed by subtitle A with respect to any person                   
               which is attributable to any partnership item (or                      
               affected item) for a partnership taxable year shall not                
               expire before the date which is 3 years after the later                
               of--                                                                   
                         (1) the date on which the partnership return                 
                    for such taxable year was filed, or                               
                         (2) the last day for filing such return for                  
                    such year (determined without regard to                           
                    extensions).  [Emphasis added.]                                   
               Section 6501 unequivocally provides the period of                      
          limitations within which "the amount of any tax imposed by this             





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