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“personal interest”. The Congress has defined this term
comprehensively5 in section 163(h)(2), so we focus on the
specifics of the relevant part of the definition--“properly
allocable to a trade or business” (sec. 163(h)(2)(A))--rather
than concepts involved in “personal”.
Examination of the history of the legislation, both the
sequence of events and the formal explanations, does not lead to
any clear answer as to the meaning of the finally adopted
statutory language. It is clear, however, that the Congress
chose language different from the statutory language that had
been construed in earlier cases. This strongly suggests that the
Congress intended a meaning different from the older statutory
language, but it does not clearly indicate what the Congress
intended that difference to be.
It is in this setting that we reach the Treasury
Regulations--section 1.163-8T, Temporary Income Tax Regs., 52
Fed. Reg. 24999 (July 2, 1987), and section 1.163-9T(b)(2)(i)(A),
Temporary Income Tax Regs., 52 Fed. Reg. 48409 (Dec. 22, 1987).6
5 That is sec. 163(h)(2) provides that “the term ‘personal
interest’ means”. (Emphasis added.) Compare secs. 64 and 65
(“the term * * * includes” (emphasis added)).
6 Sec. 6232(a) of the Technical and Miscellaneous Revenue
Act of 1988 (TAMRA 1988), Pub. L. 100-647, 102 Stat. 3342, 3734-
3735, added subsection (e) to sec. 7805. Sec. 7805(e)(2)
provides that “Any temporary regulation shall expire within 3
years after the date of issuance of such regulation.” Sec.
7805(e)(2) applies to any temporary regulation issued after Nov.
(continued...)
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