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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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