Cited Laws
TL;DR — Ruling
WHEREFORE , the Petition for Review on Certiorari is DENIED . The assailed June 2, 2016 Decision and August 12, 2016 Resolution of the Court of Tax Appeals En Banc are AFFIRMED . Respondent Carrier Air Conditioning Philippines, Inc.'s claim for refund or tax credit of P11,395,574.
WHEREFORE , the Petition for Review on Certiorari is DENIED . The assailed June 2, 2016 Decision and August 12, 2016 Resolution of the Court of Tax Appeals En Banc are AFFIRMED . Respondent Carrier Air Conditioning Philippines, Inc.'s claim for refund or tax credit of P11,395,574.20 is GRANTED . Let a copy of this Decision be furnished to the Senate of the Philippines and the House of Representatives for their information and appropriate action. SO ORDERED.