TL;DR — Ruling
WHEREFORE , the Petition for Review dated February 24, 2005 filed by petitioner Fitness by Design, Inc., is hereby GRANTED . Accordingly, the Final Assessment Notice dated March 17, 2004, finding petitioner liable for deficiency income tax, documentary stamp tax and value-added tax for taxable year 1995 in the total amount of P10,647,529.69 is hereby CANCELLED and SET ASIDE .
WHEREFORE , the Petition for Review dated February 24, 2005 filed by petitioner Fitness by Design, Inc., is hereby GRANTED . Accordingly, the Final Assessment Notice dated March 17, 2004, finding petitioner liable for deficiency income tax, documentary stamp tax and value-added tax for taxable year 1995 in the total amount of P10,647,529.69 is hereby CANCELLED and SET ASIDE . The Warrant of Distraint and Levy dated February 1, 2005 is likewise CANCELLED and SET ASIDE . SO ORDERED.
G.R. No. 177982 - FITNESS BY DESIGN, INC., VS. COMMISSIONER ON INTERNAL REVENUE.D E C I S I O N - Supreme Court E-Library
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