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Interlake Corp. v. Commissioner, supra, and which petitioner
through its old counsel had waived in entering into the
stipulation of settled issues that respondent asks us to enforce
by entering a decision thereon. Petitioner’s strategy appeared
to succeed when the bankruptcy court opined that the 1985
tentative refund was uncollectible by summary assessment because
it was a nonrebate refund. Petitioner then tried to get even
more mileage out of its nonrebate argument with respect to the
1981 and 1984 tentative refunds in this Court. However,
petitioner had to phrase its argument as a jurisdictional
challenge, because it had agreed in the stipulation of settled
issues to repay the tentative refunds. We have rejected that
challenge and shall enforce the stipulation of settled issues in
accordance with its terms.
In light of the foregoing,
Respondent’s motion for
entry of decision will be
granted, and decision will be
entered in accordance with the
stipulation of settled issues.
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