Talisay-Silay Milling Ls Wy Inc., et al. vs. Qy" C.ETEA. Cases Nos. 1399 & 1406 — Commissioner of Internal Revenue

AMENDED DECISION

Petitioner secks a reconsideration of the deci- sion in the above-entitled cases rendered on December 29, 1965. . ' In the said decision, petitioner was ordered to pay respondent the aggregate amount of P219, 399.91 as deficiency income tax for the years 1957 to 1961. However, it has been shown to the satisfaction of the Court that mathematical errors in the copying of the figures and in the computation have been inadver- tently committed. ‘Therefore, the computation is hereby amended as follows:

1257 nad “thal able Godutions —e 3 owabdie Cc

(1) Depreciation - Pub, 2k2 oh] Total ad justment AO Oe ED OD OEE Om Net income Seeroeeooeo@ Ser earee2eeeae2e Income tax due thereon eoreoenn--- P »065.0 Less: Amount already assessed ---- ___ 228,917.00 DEFICIENCY TAX DUE ---------- p 12,948.00

AMENDED DECISION -

CoTeAe CASH NOS.

1399 & 1406 1958 Net income per return --~--------- P1, Oue.63!.33 Add: Unallowable deductions:

1) Depreciation - P46, 241.41 2) Overstated fire loss- bagasse- 2,671.16

(3) i Am yeed Ven- P@ o------ Net ineome Sewe ew eee rere Ore BR See Income tax due thereon -«---------- P 991%. 00 Less amount already assessed ----~ DEFICIENCY TAX DUE o<«-------. P.3+.016,.00 1959 Net income per return ----<------- Pl, 300,886.56 Add: Unallowable deductions:

| i Depreciation - P46, 241.41 2) —— enture ----- 1,226.00

(3) Sheonae fees - Total adjustment --------~-------- - Net income Or San te Re ere eee eer eee Income tax due thereon ---------- - +O1, Yee, Less: Amount already assessed ---- ___ 382,266.00 1260 Net income per return ----------- - © 331,516.54 Adds Unallowable deductions:

(1) Depreciation =~ 746,241.41

(2) —— enture =<--<- ( 778.85)

(3) Separation USCS woee2ze Total ad justuent NE —~ -—— Net income ----- a _ Income tax dua thereon wooeenee ~-- P 0,494. Less: Amount already assessed <-<--- _ 91,455.00 1961 Net income per return ---<---<----<-- P2,021,639.10 add: Unallowable deductions 1) Depreciation - PAG, 261.42

2) Pertilizer

venture -«<<- “See Exhibit "L" a

AMENDED DECISION =

CeTeAe CASES NOS, 1399 & 1406 -3- Totel adjustment -<-<----<<<<------- Net income <<------------------ oce- Ineome tax due thereon ----------- 12, 342.00 Less: Amount already assessed ---- * _508°93,00_

SUMMARY |

1957 a------= 712,943, 00 19 eS 14, 016 ° 00 1959 initials 19,178.00 1960 a------= 19,039.00 196] ~----=== _142850,00

TOTAL AMOUNT OF TAX DUE AND

COLLECTIBLE OSES OOOOH OOOH OeABOee ) 2 031 20 With regard to our ruling on the question of pres- eription for the year 1957 and the deductibility of the bonuses of the Directors of Central Agucarera del Danao, we find no legal basis to deviate therefrom.

WHEREFORE, petitioner is hereby ordered te pay respondent the amount of P79,031.00 as deficiency in- come tax for the years 1957 to 1961, plus the corres- ponding in st previded in Section $1(d4) ef the Re- venue Code. If the deficiency tax is not paid in full within thirty (30) days from the date this decision _ becomes final and executory, petitioner shall ray a surcharge of five per cent (5%) of the unpaid auount, plus interest at the rate of one per cent (1%) a month, computed from the date this decision becomes final until paid, provided that the maximum amount that may ve colleeted az interests shall not exceed the amount

AMENDED DECISION «

CeTeAs CASES NOB, 1399 & 1406 obs corresponding to a period of three (3) years. Withe out pronouncement as to costs.

80 ORDERED. .

Quezon City, March 1, 1966.

Associate Judg Acting Presiding Judge

ISLAO R. al nat ROMAN MN. UMALI e