Midland Financial Co. and Subsidiaries - Page 8




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          The above quote applies to the case before us.  No purpose would            
          be served by repeating the statutory analysis that led us to hold           
          that an employer’s deduction is not limited to the amount                   
          reportable by its employees.                                                
               The doctrine of stare decisis generally requires that we               
          follow the holding of a previously decided case, absent special             
          justification.  Sec. State Bank v. Commissioner, 111 T.C. 210,              
          213 (1998), affd. 214 F.3d 1254 (10th Cir. 2000).  While                    
          respondent has thoroughly rearticulated his arguments in support            
          of a different interpretation of the statute, we find nothing               
          therein that would cause us to refrain from applying the doctrine           
          of stare decisis in the instant case.  Accordingly, we hold that            
          petitioner’s deductions for operation of the Falcon are in no way           
          limited by the value reportable by the Recordses.                           

                                                  Decisions will be entered           
                                             under Rule 155.                          



















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