G.R. No. 122480 - BPI-FAMILY SAVINGS BANK, INC., VS. COURT OF APPEALS, COURT OF TAX APPEALS AND THE COMMISSIONER OF INTERNAL REVENUE.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, foregoing premises considered, the petition is hereby DISMISSED for lack of merit." [3] On the other hand, the dispositive portion of the CTA Decision affirmed by the CA reads as follows: "WHEREFORE, in [view of] all the foregoing, Petitioners claim for refund is hereby DENIED and this Petition for Review is DISMISSED for lack of merit." [4] Also assailed is the November 8, 1995 CA Resolution [5] denying reconsideration. The Facts The facts of this case were summarized by the CA in this wise: "This case involves a claim for tax refund in the amount of P112,491.00 representing petitioners tax withheld for the year 1989. In its Corporate Annual Income Tax Return for the year 1989, the following items are reflected: Income P1,017,931,831.00 Deductions P1,026,218,791.00 Net Income (Loss) (P8,286,960.00) Taxable Income (Loss) P8,286,960.00 Less: 1988 Tax Credit P185,001.00 1989 Tax Credit P112,491.00 TOTAL AMOUNT P297,492.00 REFUNDABLE "It appears from the foregoing 1989 Income Tax Return that petitioner had a total refundable amount of P297,492 inclusive of the P112,491.00 being claimed as tax refund in the present case. However, petitioner declared in the same 1989 Income Tax Return that the said total refundable amount of P297,492.00 will be applied as tax credit to the succeeding taxable year. "On October 11, 1990, petitioner filed a written claim for refund in the amount of P112,491.00 with the respondent Commissioner of Internal Revenue alleging that it did not apply the 1989 refundable amount of P297,492.00 (including P112,491.00) to its 1990 Annual Income Tax Return or other tax liabilities due to the alleged business losses it incurred for the same year. "Without waiting for respondent Commissioner of Internal Revenue to act on the claim for refund, petitioner filed a petition for review with respondent Court of Tax Appeals, seeking the refund of the amount of P112,491.00 . "The respondent Court of Tax Appeals dismissed petitioners petition on the ground that petitioner failed to present as evidence its Corporate Annual Income Tax Return for 1990 to establish the fact that petitioner had not yet credited the amount of P297,492.00 (inclusive of the amount P112,491.00 which is the subject of the present controversy) to its 1990 income tax liability. "Petitioner filed a motion for reconsideration, however, the same was denied by respondent court in its Resolution dated May 6, 1994." [6] As earlier noted, the CA affirmed the CTA. Hence, this Petition. [7] Ruling of the Court of Appeals In affirming the CTA, the Court of Appeals ruled as follows: "It is incumbent upon the petitioner to show proof that it has not credited to its 1990 Annual income Tax Return, the amount of P297,492.00 (including P112,491.00), so as to refute its previous declaration in the 1989 Income Tax Return that the said amount will be applied as a tax credit in the succeeding year of 1990. Having failed to submit such requirement, there is no basis to grant the