JurisprudenceG.R. No. 112024 -

G.R. No. 112024 - PHILIPPINE BANK OF COMMUNICATIONS, VS. COMMISSIONER OF INTERNAL REVENUE, COURT OF TAX APPEALS AND COURT OF APPEALS.D E C I S I O N - Supreme Court E-Library

Cited Laws

RA 620RA 446RA 667RA 184RA 44,RA 142RA 299RA 233RA 5RA 198RA 903RA 327RA 82,RA 90RA 368RA 957RA 332,RA 202RA 211RA 790,

TL;DR — Ruling

WHEREFORE , petitioner’s claim for refund/tax credit of overpaid income tax for 1985 in the amount of P5,299,749.95 is hereby denied for having been filed beyond the reglementary period. The 1986 claim for refund amounting to P234,077.69 is likewise denied since petitioner has opted and in all likelihood automatically credited the same to the succeeding year.

Decision

Ruling

WHEREFORE , petitioners claim for refund/tax credit of overpaid income tax for 1985 in the amount of P5,299,749.95 is hereby denied for having been filed beyond the reglementary period. The 1986 claim for refund amounting to P234,077.69 is likewise denied since petitioner has opted and in all likelihood automatically credited the same to the succeeding year. The petition for review is dismissed for lack of merit. SO ORDERED.