G.R. No. 117254 - COMMISSIONER OF INTERNAL REVENUE, VS. COURT OF APPEALS, COURT OF TAX APPEALS, AND BANK OF THE PHILIPPINE ISLANDS AS LIQUIDATOR OF PARAMOUNT ACCEPTANCE CORPORATION.D E C I S I O N - Supreme Court E-Library

Ruling

Accordingly, the CTA ordered as follows: WHEREFORE, the respondent [petitioner herein] is hereby ordered to REFUND in favor of petitioner, the sum of P65,259.00, representing overpaid income tax of Paramount Acceptance Corporation for the calendar year 1985. No pronouncement as to costs. SO ORDERED.