Treasury Regulations (26 C.F.R.)
26 CFR § 1.1312-8
Law applicable in determination of error.
The question whether there was an erroneous inclusion, exclusion, omission, allowance, disallowance, recognition, or nonrecognition is determined under the provisions of the internal revenue laws applicable with respect to the year as to which the inclusion, exclusion, omission, allowance, disallowance, recognition, or nonrecognition, as the case may be, was made. The fact that the inclusion, exclusion, omission, allowance, disallowance, recognition, or nonrecognition, as the case may be, was in pursuance of an interpretation, either judicial or administrative, accorded such provisions of the internal revenue laws at the time of such action is not necessarily determinative of this question. For example, if a later judicial decision authoritatively alters such interpretation so that such action was contrary to such provisions of the internal revenue laws as later interpreted, the inclusion, exclusion, omission, allowance, disallowance, recognition, or nonrecognition, as the case may be, is erroneous within the meaning of section 1312.
[T.D. 6500, 25 FR 12036, Nov. 26, 1960. Redesignated by T.D. 6617, 27 FR 10824, Nov. 7, 1962]
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In this part (40 sections)
- 1.1297-5 · [Reserved]
- 1.1297-6 · Exception from the definition of passive income for active…
- 1.1298-0 · Passive foreign investment company—table of contents.
- 1.1298-1 · Section 1298(f) annual reporting requirements for United…
- 1.1298-2 · Rules for certain corporations changing businesses.
- 1.1298-3 · Deemed sale or deemed dividend election by a U.S. person…
- 1.1298-4 · Rules for certain foreign corporations owning stock in…
- 1.1301-1 · Averaging of farm and fishing income.
- 1.1311(a)-1 · (a)-1 Introduction.
- 1.1311(a)-2 · (a)-2 Purpose and scope of section 1311.
- 1.1311(b)-1 · (b)-1 Maintenance of an inconsistent position.
- 1.1311(b)-2 · (b)-2 Correction not barred at time of erroneous action.
- 1.1311(b)-3 · (b)-3 Existence of relationship in case of adjustment by…
- 1.1312-1 · Double inclusion of an item of gross income.
- 1.1312-2 · Double allowance of a deduction or credit.
- 1.1312-3 · Double exclusion of an item of gross income.
- 1.1312-4 · Double disallowance of a deduction or credit.
- 1.1312-5 · Correlative deductions and inclusions for trusts or estates…
- 1.1312-6 · Correlative deductions and credits for certain related…
- 1.1312-7 · Basis of property after erroneous treatment of a prior…
- 1.1312-8 · Law applicable in determination of error.
- 1.1313(a)-1 · (a)-1 Decision by Tax Court or other court as a…
- 1.1313(a)-2 · (a)-2 Closing agreement as a determination.
- 1.1313(a)-3 · (a)-3 Final disposition of claim for refund as a…
- 1.1313(a)-4 · (a)-4 Agreement pursuant to section 1313(a)(4) as a…
- 1.1313(c)-1 · (c)-1 Related taxpayer.
- 1.1314(a)-1 · (a)-1 Ascertainment of amount of adjustment in year of…
- 1.1314(a)-2 · (a)-2 Adjustment to other barred taxable years.
- 1.1314(b)-1 · (b)-1 Method of adjustment.
- 1.1314(c)-1 · (c)-1 Adjustment unaffected by other items.
- 1.1321-1 · Involuntary liquidation of lifo inventories.
- 1.1321-2 · Liquidation and replacement of lifo inventories by acquiring…
- 1.1331-1 · Recoveries in respect of war losses.
- 1.1332-1 · Inclusion in gross income of war loss recoveries.
- 1.1333-1 · Tax adjustment measured by prior benefits.
- 1.1334-1 · Restoration of value of investments.
- 1.1335-1 · Elective method; time and manner of making election and…
- 1.1336-1 · Basis of recovered property.
- 1.1337-1 · Determination of tax benefits from allowable deductions.
- 1.1341-1 · Restoration of amounts received or accrued under claim of…