Philippine National Bank vs. Commissioner of Internal Revenue

AMENDED DECISION

UY, J.:

This resolves petitioner's Motion for Partial Reconsideration filed on May 14, 2009, particularly, the remaining unresolved issue of whether or not petitioner is entitled to an additional tax refund or issuance of tax credit certificate for creditable taxes withheld in the amount of NINE HUNDRED THOUSAND PESOS (12 900,000.00), covering taxable year 2003, previously disallowed by this Court in its Decision dated April 23, 2009, for not being supported by Certificate of Creditable Withholding Taxes. In a Resolution dated December 8, 2009, this Court then resolved to hold in abeyance the resolution of petitioner's claim for additional refund of 17 .1

~ 900,000.00, representing creditable taxes withheld by lsetann Department Store, Inc., with order to submit its formal offer of Exhibit "GG-1 .64". On December 18, 2009, petitioner filed its Supplemental Formal Offer of Evidence, offering in evidence Exhibit "GG-1 .64". Such exhibit was admitted by the Court per its Resolution dated February 16, 2010. The Court will now address the issue of petitioner's entitlement to the refund of 12 900,000.00.

It should be recalled that in the assailed Decision, this Court disallowed the amount of 12 900,000.00, for not being supported by Creditable Withholding Tax Certificates.1 Petitioner presented Exhibit "GG-1.64", which is the Certificate of Creditable Tax Withheld at Source (BIR Form No. 2307) showing that lsetann Department Store, Inc. indeed withheld, in behalf of petitioner, the amount of 12 900,000.00 for the third quarter of 2003. With the presentation of said evidence, petitioner has now substantially proven its entitlement to the refund of the additional amount of 12 900,000.00 sought to be reconsidered .

WHEREFORE, premises considered, petitioner's Motion for Partial Reconsideration is hereby PARTIALLY GRANTED.

Accordingly, the Decision dated April 23, 2009 is hereby MODIFIED to read as follows: "WHEREFORE, this instant Petition for Review is hereby

PARTIALLY

GRANTED.

Accordingly, respondent is hereby ORDERED to REFUND or to ISSUE A TAX CREDIT CERTIFICATE in the reduced amount of THIRTY NINE MILLION TWO HUNDRED

EIGHTY EIGHT THOUSAND THREE HUNDRED THIRTY ONE

PESOS and NINE CENTAVOS (tit 39,288,331.09), representing petitioner's excess creditable withholding taxes for taxable year 2003. (

WE CONCUR:

Q~~ c. ~a...--~~~.

JUANITO C. CASTANEDA, JR.

Associate Justice

ER~ UY

Associate Justice

~QUEZ

Associate Justice

ATTESTATION

I attest that the conclusions in the above Amended Decision were reached in consultation before the case was assigned to the writer of the opinion of the Court's Division.

~hC. ~i4Q JUANITO c. CASTANEDA, 1 SR: .

CERTIFICATION

Associate Justice

Chairperson

Pursuant to Article VIII , Section 13 of the Constitution, and the Division Chairperson's Attestation, it is hereby certified that the conclusions in the above Amended Decision were reached in consultation before the case was assigned to the writer of the opinion of the Court. (}__--~.~ ERNESTO D. ACOSTA

Presiding Justice

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