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argue the legal principles of those opinions against the
principles and public guidance articulated in the Commissioner’s
currently outstanding revenue rulings.
We agree with respondent that revenue rulings are not
binding on this Court, or other Federal courts for that matter.
See Frazier v. Commissioner, 111 T.C. 243, 248 (1998); N. Ind.
Pub. Serv. Co. v. Commissioner, 105 T.C. 341, 350 (1995), affd.
115 F.3d 506 (7th Cir. 1997). However, we cannot agree that the
Commissioner is not bound to follow his revenue rulings in Tax
Court proceedings. Indeed, we have on several occasions treated
revenue rulings as concessions by the Commissioner where those
rulings are relevant to our disposition of the case. Walker v.
Commissioner, 101 T.C. 537, 550-551 (1993); Burleson v.
Commissioner, T.C. Memo. 1994-364.10 In Phillips v.
9(...continued)
those cases, the donees in the instant case had the legal power,
at the time of the assignments, to decide not to sell their stock
warrants to NMG or WCP.
10Other cases where we have treated revenue rulings as
concessions by the Commissioner include: Nissho Iwai Am. Corp.
v. Commissioner, 89 T.C. 765 (1987); Cascade Designs, Inc. v.
Commissioner, T.C. Memo. 2000-58; Merritt v. Commissioner, T.C.
Memo. 1995-44; Stalcup v. Commissioner, T.C. Memo. 1995-43;
Nikkila v. Commissioner, T.C. Memo. 1993-628; Boice v.
Commissioner, T.C. Memo. 1993-627; Callison v. Commissioner, T.C.
Memo. 1993-626; Zuhone v. Commissioner, T.C. Memo. 1988-142,
affd. 883 F.2d 1317 (7th Cir. 1989).
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