- 13 -
defer to the agency’s interpretation as reflected in Pub. 538 and
Rev. Proc. 96-31. Cf. Kurzet v. Commissioner, 222 F.3d 830 (10th
Cir. 2000)(giving deference to the Commissioner’s contrary
interpretation of section 1.446-1(e)(2)(ii)(b), Income Tax
Regs.), affg. in part, revg. in part, and remanding T.C. Memo.
1997-54 and an Oral Opinion of this Court. Moreover, there is
nothing in the record to indicate the adjustments that respondent
made to reflect the change in classification of each item of the
Equipment or that the rationale of Brookshire Bros. Holding, Inc.
& Subs. is not appropriate to this case.
For the foregoing reasons, we hold that the change in MACRS
classification of each item of the Equipment is not a change in
petitioner’s method of accounting. Since there is no change in
method of accounting, an adjustment pursuant to section 481(a) is
not required. Accordingly, we need not reach petitioner’s other
contentions regarding equitable relief or section 481(b).
To reflect the foregoing and petitioner’s concessions,
Decision will be entered
under Rule 155.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13
Last modified: May 25, 2011