FPL Group, Inc. and Subsidiaries - Page 10

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               interest on overpayments as in the case of other income                
               tax credits.  On the other hand, payments under the                    
               excise tax provisions (secs. 6420, 6421, 6424, and                     
               6427) for the gasoline, diesel fuels, special fuels, or                
               lubricating oil taxes, as the case generally with                      
               regard to excise taxes (and as under present law), are                 
               made without interest being paid to the taxpayer.  [S.                 
               Rept. 91-706, at 23 (1970), 1970-1 C.B. 386, 399.]                     
               The Senate report does not suggest that the credits                    
          available under section 39 were created or limited by section               
          6427.  The Senate report also notes the extension of the time               
          within which a section 6427 claim may be made “will make the                
          filing of full-year claims (but not the quarterly claims) for               
          refunds (under secs. * * * 6427) similar to the new rule for                
          claims for credits against income tax (under sec. 39).”  S. Rept.           
          91-706, supra at 23, 1970-1 C.B. at 399.  Thus, the relief                  
          afforded by sections 39 and 6427 appears to have been intended to           
          be equal in authority and effect.                                           
          III. Conclusion                                                             
               For the foregoing reasons, we deny respondent’s motion for             
          partial summary judgment, and we hold that petitioner is not                
          barred by the so-called “one claim” rule of section 6427(i)(1)              
          from obtaining a credit for fuel tax under section 34(a)(3).                

                                             An appropriate order will be             
                                        issued denying respondent’s motion            
                                        for partial summary judgment.                 

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