Acme Steel Company (formerly known as Interlake, Inc., and now known as Acme Metals, Inc.) and Consolidated Subsidiaries - Page 12

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          it did not take into account the tentative refund that had been             
          paid to Interlake with respect to the 1984 tax year.  On October            
          26, 1987, petitioner filed a revised Form 1139 that took into               
          account the earlier tentative refund paid to Interlake.  On the             
          revised Form 1139, petitioner requested tentative refund                    
          allowances of $3,109,029 and $3,542,388 for 1984 and 1985,                  
          respectively.                                                               
               On November 1, 1987, 45 days after petitioner had filed its            
          original Form 1139 with respondent and less than a week after               
          petitioner filed the revised Form 1139, respondent paid tentative           
          refunds to petitioner of $148,692 for 1981, $3,109,029 for 1984,            
          and $3,524,388 for 1985.  Neither Interlake nor any member of its           
          affiliated group received any portion of the tentative refunds              
          paid to petitioner.                                                         
               Administrative Proceedings                                             
               Sometime after the tentative refunds were paid, respondent             
          determined to reverse the tentative refunds made to petitioner              
          and Interlake pending a determination whether petitioner or                 
          Interlake continued as the common parent of the affiliated group            
          as a result of the 1986 restructuring and spinoff.  Respondent              
          informed petitioner of his determination in a February 1, 1988,             
          letter and requested repayment within 10 days.                              
               Petitioner responded in a February 26, 1988, letter stating            
          that it was entitled to the refunds, and that any issues                    






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