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TITLE 26-INTERNAL REVENUE CODE after Dec. 31, 1969, see section 803(f) of Pub. L. 91-172, set out as an Effective Date of 1969 Amendment note under section 1 of this title. Amendment of subsec. (b)(2) by section 515(c)(4) of Pub. L. 91-172 applicable to taxable years ending after Dec. 31, 1969, see section 515(d) of Pub. L. 91-172, set out as an Effective Date of 1969 Amendment note under section 402 of this title. Amendment of subsecs. (b)(5), (6) and (c) to (g) by section 311(c), (d)(2) of Pub. L. 91-172 applicable with respect to computation years (within the meaning of section 1302(c)(1) of this title) beginning after Dec. 31, 1969, and to base period years (within the meaning of section 1302(c)(3) of this title) applicable to such com- putation years, see section 311(e) of Pub. L. 91-172, set out as an Effective Date of 1969 Amendment note under section 1301 of this title. Amendment of subsec. (c)(4) by section 802(c)(5) of Pub. L. 91-172 applicable to taxable years beginning after Dec. 31, 1969. see section 802(d) of Pub. L. 91- 172, set out as an Effective Date of 1969 Amendment note under section 141 of this title. EFFECTIVE DATE Section applicable with respect to taxable years be- .jnning after Dec. 31, 1963, see section 232(g) of Pub. L. 88-272, set out as an Effective Date note under sec- tion 1301 of this title. § 1305. Regulations The Secretary shall prescribe such regula- tions as may be necessary to carry out the pur- poses of this part. (Added Pub. L. 88-272, title II, § 232(a), Feb. 26, 1964, 78 Stat. 110, and amended Pub. L. 94-455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.) PRIOR PROVxSIONS A prior section 1305, act Aug. 26, 1957, Pub. L. 85- 165, § 1, 71 Stat. 413, related to damages for breach of contract or fiduciary duty. A prior section 1306, Pub. L. 85-866, title I, § 58(a), Sept. 2, 1958, 72 Stat. 1646, related to damages re- ceived for injuries under the antitrust laws. A prior section 1307, act Aug. 16, 1954, ch. 736, 68A Stat. 336, § 1307, formerly § 1304, renumbered § 1305, Aug. 11, 1955, ch. 804. § l(a) 69 Stat. 688; renumbered § 1306, Aug. 26, 1957, Pub. L. 85-165, § 1, 71 Stat. 413; renumbered § 1307, Sept. 2, 1958, Pub. L. 85-866, title I, § 58(a). 72 Stat. 1646; amended Oct. 16, 1962, Pub. L. 87-834, § 22(a), 76 Stat. 1064, provided rules applicable to this part. See Effective Date note set out under sec- tion 1301 of this title. AMExDMENTs 1976-Pub. L. 94-455 struck out "or his delegate" fol- lowing "Secretary". EFcTIVE DAm Section applicable with respect to taxable years be- ginning after Dec. 31, 1963, see section 232(g) of Pb. L. 88-272, set out as an Effective Date note under sec- tion 1301 of this title. PART II-MITIGATION OF EFFECT OF LIMITATIONS AND OTHER PROVISIONS Sec. 1311. 1312. 1313. 1314. (1315. Correction of error. Circumstances of adjustment. Definitions. Amount and method of adjustment. Repealed.] AMENDMENTS 1976-Pub. L. 94-455, title XIX, § 1901(b)(35), Oct. 4, 1976, 90 Stat. 1802, struck out item 1315 "Effective date". § 1311. Correction of error (a) General rule If a determination (as defined in section 1313) is described in one or more of the paragraphs of section 1312 and, on the date of the determina- tion, correction of the effect of the error re- ferred to in the applicable paragraph of section 1312 is prevented by the operation of any law or rule of law, other than this part and other than section 7122 (relating to compromises), then the effect of the error shall be corrected by an adjustment made in the amount and in the manner specified In section 1314. (b) Conditions necessary for adjustment (1) Maintenance of an inconsistent position Except in cases described in paragraphs (3) (B) and (4) of section 1312, an adjustment shall be made under this part only if- (A) in case the amount of the adjustment would be credited or refunded in the same manner as an overpayment under section 1314, there is adopted in the determination a position maintained by the Secretary, or (B) in case the amount of the adjustment would be assessed and collected in the same manner as a deficiency under section 1314, there is adopted in the determination a po- sition maintained by the taxpayer with re- spect to whom the determination is made, and the position maintained by the Secretary in the case described in subparagraph (A) or maintained by the taxpayer in the case de- scribed in subparagraph (B) is inconsistent with the erroneous inclusion, exclusion, omis- sion, allowance, disallowance, recognition, or non-recognition, as the case may be, (2) Correction not barred at time of erroneous action (A) Determination described in section 1312(3)(B) In the case of a determination described in section 1312(3)(B) (relating to certain ex- clusions from income), adjustment shall be made under this part only if assessment of a deficiency for the taxable year in which the item is includible or against the related taxpayer was not barred, by any law or rule of law, at the time the Secretary first main- tained, in a notice of deficiency sent pursu- ant to section 6212 or before the Tax Court that the item described in section 1312(3)(B) should be included in the gross income of the taxpayer for the taxable year to which the determination relates. (B) Determination described in section 1312(4) In the case of a determination described in section 1312(4) (relating to disallowance of certain deductions and credits), adjust- ment shall be made under this part only if credit or refund of the overpayment attrib- utable to the deduction or credit described in such section which should have been al- lowed to the taxpayer or related taxpayer was not barred, by any law or rule of law, at the time the taxpayer first maintained before the Secretary or before the Tax Court, in writing, that he was entitled to such deduction or credit for the taxable year to which the determination relates. Page 722 § 1305