Credits
(1) In general If— (A) a credit was allowable with respect to any amount for any prior taxable year, and (B) during the taxable year there is a downward price adjustment or similar adjustment, the tax imposed by this chapter for the taxable year shall be increased by the amount of the credit attributable to the adjustment.
(2) Exception where credit did not reduce tax Paragraph (1) shall not apply to the extent that the credit allowable for the recovered amount did not reduce the amount of tax imposed by this chapter.
(3) Exception for investment tax credit and foreign tax credit This subsection shall not apply with respect to the credit determined under section 46 and the foreign tax credit.
(1)In general#
If—
(A) a credit was allowable with respect to any amount for any prior taxable year, and
(B) during the taxable year there is a downward price adjustment or similar adjustment,
the tax imposed by this chapter for the taxable year shall be increased by the amount of the credit attributable to the adjustment.
(1)(A)#
a credit was allowable with respect to any amount for any prior taxable year, and
(1)(B)#
during the taxable year there is a downward price adjustment or similar adjustment,
(2)Exception where credit did not reduce tax#
Paragraph (1) shall not apply to the extent that the credit allowable for the recovered amount did not reduce the amount of tax imposed by this chapter.
(3)Exception for investment tax credit and foreign tax credit#
This subsection shall not apply with respect to the credit determined under section 46 and the foreign tax credit.