Unimax Corp. v. Tax Appeals

Hancock, Jr., J.

(dissenting). The majority holds that the limited subsidiary-by-subsidiary offset method prescribed in the audit guideline is rational because it is not specifically prohibited by Tax Law § 208 (9) (b) (6) and is not inconsistent with the purpose of that section. This reasoning proves nothing. Indeed, the netting approach urged by Unimax also fully *148complies with the statutory language of section 208 (9) (b) (6) and furthers the purpose of that section. The majority never addresses the only question in the case: whether the additional and gratuitous disallowance of interest…