Swallows Holding, Ltd. - Page 100

                                        -56-                                          
                    9 The judiciary is the final authority on issues                  
               of statutory construction and must reject                              
               administrative constructions which are contrary to                     
               clear congressional intent.  * * *  If a court,                        
               employing traditional tools of statutory construction,                 
               ascertains that Congress had an intention on the                       
               precise question at issue, that intention is the law                   
               and must be given effect.                                              
               [Id. at 842-843 (some fn. refs. omitted; citations                     
               omitted).]                                                             
               The question arises from the timing of these two decisions             
          whether the Supreme Court intended for Chevron U.S.A., Inc. v.              
          Natural Res. Def. Council, Inc., supra, to replace Natl. Muffler            
          Dealers Association v. United States, supra, in the review of a             
          Federal tax regulation.  We have previously stated with respect             
          to that question: “we are inclined to the view that the impact of           
          the traditional, i.e., National Muffler standard, has not been              
          changed by Chevron, but has merely been restated in a practical             
          two-part test with possibly subtle distinctions as to the role of           
          legislative history and the degree of deference to be accorded to           
          a regulation.”  Central Pa. Sav. Association & Subs. v.                     
          Commissioner, 104 T.C. 384, 392 (1995); see also id. at 390-392             
          (discussing the review of Federal tax regulations under Natl.               
          Muffler in relation to Chevron); cf. E.I. duPont de Nemours & Co.           
          v. Commissioner, 41 F.3d 130 (3d Cir. 1994) (questioning whether            
          Chevron applies to interpretative Federal tax regulations).                 
          Here, we conclude likewise that we need not parse the semantics             
          of the two tests to discern any substantive difference between              






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