- 79 -
respondent issued to petitioner for its taxable years 1994, 1995,
and 1996 (collectively, petitioner’s tentative refunds), are
rebates within the meaning of section 6211(b)(2).52 Baldwin v.
Commissioner, 97 T.C. 704, 707-708 (1991). Pursuant to section
52Sec. 6211 provides in pertinent part:
SEC. 6211. DEFINITION OF A DEFICIENCY.
(a) In General.--For purposes of this title in the
case of income, estate, and gift taxes imposed by
subtitles A and B * * * the term “deficiency” means the
amount by which the tax imposed by subtitle A or B
* * * exceeds the excess of--
(1) the sum of
(A) the amount shown as the tax by the
taxpayer upon his return, if a return was
made by the taxpayer and an amount was shown
as the tax by the taxpayer thereon, plus
(B) the amounts previously assessed (or
collected without assessment) as a
deficiency, over--
(2) the amount of rebates, as defined in
subsection (b)(2), made.
* * * * * * *
(b) Rules for Application of Subsection (a).--For
purposes of this section--
* * * * * * *
(2) The term “rebate” means so much of an
abatement, credit, refund, or other payment, as
was made on the ground that the tax imposed by
subtitle A or B * * * was less than the excess of
the amount specified in subsection (a)(1) over the
rebates previously made.
Page: Previous 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 NextLast modified: May 25, 2011