- 40 -
prescribe regulations relates to section 469 only. Sec.
469(l)(4); Hughes Intl. Sales Corp. v. Commissioner, 100 T.C.
293, 303-304 (1993).
Section 1.163-9T, Temporary Income Tax Regs., supra, was
promulgated under section 7805. T.D. 8168, 1988-1 C.B. 80, 83.
In the relevant Notice of Proposed Rulemaking, 1988-1 C.B. 926,
927, the Commissioner concluded that section 1.163-9T, Temporary
Income Tax Regs., supra, is an interpretative regulation. For
purposes of the instant case, we agree with the Commissioner’s
conclusion and treat section 1.163-9T, Temporary Income Tax
Regs., supra, as an interpretative regulation.
Although interpretative regulations are entitled to
considerable weight, they are accorded less deference than
legislative regulations, which are issued under a specific grant
of authority to address a matter raised by the relevant statute.
Chevron U.S.A. v. Natural Res. Def. Council, 467 U.S. 837, 843-
844 (1984); United States v. Vogel Fertilizer Co., 455 U.S. 16,
24 (1982). Temporary regulations are accorded the same weight as
final regulations. Peterson Marital Trust v. Commissioner, 102
T.C. 790, 797 (1994), affd. 78 F.3d 795 (2d Cir. 1996).
An interpretative regulation is to be upheld if it
“‘implement[s] the congressional mandate in some reasonable
manner.’” United States v. Vogel Fertilizer Co., 455 U.S. at 24
(quoting United States v. Correll, 389 U.S. 299, 307 (1967)). In
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