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New York upholds forced combination for income distortion
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The New York Tax Appeals Tribunal (TAT) affirmed a decision to force the combination of a bank and its subsidiary because an interest deduction attributable to assets held by the subsidiary resulted in distortion of income.[Interaudi Bank F/K/A Bank Audi (USA),New York Tax Appeals Tribunal, DTA No. 821659, April 14, 2011]
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