CTA Case No. 3916

DECISION -

CTA CASE NO. 2916 - In 1982, petitioner filed its final annual income tax return showing a tax due of Fb&9,744.00 and that it filed its quarterly income tax return as required by the National Internal Revenue Code and paid the following amounts:

dst tr. wae ennane F278 ,904, 74 SMG Qtr. wna anne 24, 347.16 SPO Gtr. aneonnwee 17,439.65 These amounts include creditable taxes withheld on interest for government bonds of PAD 7S OW 4 or a total refundable Sum of F609 , 520,00, In 1984, considering that it lost during that year, there were alleged as creditable taxes withheld oan interest from government bands of POS,882.83, and for rentals earned of P1iS,02%3.56, or an alleged total refundable amount of ord F68.,9706,10.

Summing up the alleged creditable amounts of F609, 5209.00 and F68,9706.10, it arrived at the total refundable sum of F678,426.00, On april @, 1985, petitioner, thru counsel, Atty. Demosthenes EB. Gadioma, claimed for the tax oe

DECISION -

credit of the alleged amount of FP678,.426.00 (Exh. J, pp. 7ie73, CTA rec.) as follows:

Tan che per TTR ween cneccenreeenes Fo 69,744.00 Jax payments:

Ist quarter ITkK F278 O04 2rd " " 17,428 Creditahle taxes with held on interest from government bonds tg 27'S 7D 9 BOF WOOD Amount refundable wancenueucunanne F609, S20 ,.00 Tax due - loss year cnananene eeuee zero Creditable taxes withheld on interest from government bonds... F and from rentals earned .

Arnaut refundable enn eennenenuee EF 68,906.10 Total amount refundable for 193 & 19764 sorta ree weer 678, 4 Respandent Cammissianer af Internal Revenue, hawever, did moat act on said claim for tax credit.

The only issue in this case is whether ar not petitianer Froavident Insurance Corparatian is entitled to the credit of the alleged amount of F478 ,426,00, we

DECISION

CTA CASE NO. 2916 Fetitioner is entitled to the claim for tax credit so much as it has proved to have been erroneously paid by virtue of its evidence.

- 2 The petitioner has shown by its evidence that it is entitled to claim for tax credit for the years 1983 and 1984 only the amount of tax withheld at source in the sum of F640,920,20, computed as follows:

Tax due per TTR wae een eter eee nee F469, 744,00 ist Qtr. (Exbis. G & B) wa. PO7B,O08.74- and Qtr. (Exhs. Hy Het Be Ee) wae eee 24 S47 1G Srd Ghee, (fxbs. Int & A) wae 17,433.65 Craditable taxes withheld .

on interest from govertr- to C-4) wee eee ewes AP SATS OO 679 SI. 00 Total refundable amount for VASE ...eeee Tax Duee-loss year saceenene oun enanewwee Zero interest from government.

bonecls :

(Exh. EL) sannnewnwnune 17,212.50 (Exh. F) eee wene anes 1,022.25 (Exh. Fri) waneneuenene “ 1,057,950 (Ex. Fr) wane eneaannne 295 4 (Exh. Fel) sseweenaneeae 1,045.00 (Exh. Fre) wan ee an aerneen 965.16 (EXP. FeO) sence neceewes cmt POLO FSS Total refundable amount for 1984 ....... F om

DECISION

CTA CASE ft . 2916 Total refundable for 1982 2. .ccannes eeee FOO, 520.00 Total refundable ‘for 1984 2... ceewn en eee ed 410.20 Grand total refundable for S63 and 1934 weuwenn renee neee Nate that the amounts af F6,750.00 (Exh. E-2) and Fi7,212.50 (Exh. Er?) were removed in the camputatian af the refundable amount as they apparently canmatitute a reproduction only of Exhs. E and Ei.

WHEREFORE , respoandant Commi ss Loner of InternalRevenue is hereby ordered to grant ai tax credit. aa) petitioner Frovident Insurance Corporation the grand total sum of F640,930.320 as excess Lax payments for the years 1993 and 1984. Without pronouncement as to costs. S50 ORDERED.

Quezon City, Metro Manila, August 13,4 1988.

— co - ROAGUIN yssociate Judge oe hiE CONCUR:

AMANTE

Presiding ,Judge ·- 6 -·- -~

Associate Judge

C E R T I F

I

C A T I 0 N

I

certi-fy that this decision was reached a-fter due consultation amo~g the members o-f the Cour·· t

Appeals

in accordance with

Section

1 3 ~ Article VI II o-f the 0~n s titution. ~~/

AMANTE

ILLER

F'resid i g ,Jtldge Court o-f Tax Appeals