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v. Commissioner, 34 T.C. 1051, 1054 (1960). In those situations,
the mitigation provisions preclude the Commissioner or a taxpayer
from taking a position that is inconsistent with an earlier
year’s position and then seeking refuge behind the period of
limitations that otherwise prevents an adjustment to the earlier
year. S. Rept. 1567, 75th Cong., 3d Sess. (1938), 1939-1 C.B.
(Part 2) 779, 815. If the requirements allowing mitigation are
met, a year closed by the statute of limitations can be reopened
for the limited purposes of the mitigation sections. Farmer v.
Commissioner, T.C. Memo. 1998-327.
The mitigation provisions were drafted with great precision
and care. Bolten v. Commissioner, 95 T.C. 397, 403 (1990). The
relief available under the mitigation provisions is limited, and
the statutory provisions do not purport to permit the correction
of all errors and inequities. Fong v. Commissioner, T.C. Memo.
1998-181.
In this case, for mitigation to apply, we would have to
reopen the 1987 tax year in order to carry back the 1990 NOL.
However, respondent determined a deficiency for the 1995 tax
year, not the 1987 tax year. Although petitioner petitioned this
Court for a review of both the 1995 and 1987 tax years, this
Court granted respondent’s motion to dismiss the 1987 tax year
for lack of jurisdiction. Accordingly, we have jurisdiction only
to redetermine the 1995 tax year. Since the mitigation
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