This case has been cited 2 times or more.
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2014-04-07 |
PERALTA, J. |
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| It could not have been the intention of the law to burden the taxpayer with going through the process of execution under the Rules of Civil Procedure before it may be allowed to avail its tax credit as affirmed by a court judgment. If at all, the City of Manila Local Treasury may be allowed to verify documents and information relative to the grant of the tax refund or tax credit (i.e., determine the correctness of the petitioner's returns, and the tax amount to be credited), in consonance with the ruling in San Carlos Milling Co., Inc. v. Commissioner of Internal Revenue,[25] which may be applied by analogy to the case at bar, to wit: It is difficult to see by what process of ratiocination petitioner insists on the literal interpretation of the word "automatic." Such literal interpretation has been discussed and precluded by the respondent court in its decision of 23 December 1991 where, as aforestated, it ruled that "once a taxpayer opts for either a refund or the automatic tax credit scheme, and signified his option in accordance with the regulation, this does not ipso facto confer on him the right to avail of the same immediately. An investigation, as a matter of procedure, is necessary to enable the Commissioner to determine the correctness of the petitioner's returns, and the tax amount to be credited. | |||||
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2007-08-09 |
NACHURA, J. |
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| In the case of San Carlos Milling Co., Inc. v. CIR,[36] the Court struck down therein petitioner's attempt to unilaterally declare as tax credit its excess estimated quarterly income taxes from the previous year. The Court explained, thus:The respondent Court held that the choice of a corporate taxpayer for an automatic tax credit does not ipso facto confer on it the right to immediately avail of the same. Respondent court went on to emphasize the need for an investigation to ascertain the correctness of the corporate returns and the amount sought to be credited. We agree. | |||||