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CIR v. BANK OF COMMERCE

This case has been cited 5 times or more.

	GR No. 175108 2013-02-27	CHINA BANKING CORPORATION v. CIR PERALTA, J.
In Commissioner of Internal Revenue v. Bank of Commerce,[16] we again adhered to the ruling that the term "gross receipts" must be understood in its plain and ordinary meaning. In this case, we ruled that gross receipts should be interpreted as the whole amount received as interest, without deductions; otherwise, if deductions were to be made from gross receipts, it would be considered as "net receipts." The Court ratiocinated as follows: The word "gross" must be used in its plain and ordinary meaning. It is defined as "whole, entire, total, without deduction." A common definition is "without deduction." x x x Gross is the antithesis of net. Indeed, in China Banking Corporation v. Court of Appeals, the Court defined the term in this wise:
	GR No. 181845 2009-08-04	CITY OF MANILA v. COCA-COLA BOTTLERS PHILIPPINES CHICO-NAZARIO, J.
Double taxation means taxing the same property twice when it should be taxed only once; that is, "taxing the same person twice by the same jurisdiction for the same thing." It is obnoxious when the taxpayer is taxed twice, when it should be but once. Otherwise described as "direct duplicate taxation," the two taxes must be imposed on the same subject matter, for the same purpose, by the same taxing authority, within the same jurisdiction, during the same taxing period; and the taxes must be of the same kind or character.[18]
	GR No. 176667 2007-11-22	ERICSSON TELECOMMUNICATIONS v. CITY OF PASIG AUSTRIA-MARTINEZ, J.
In Commissioner of Internal Revenue v. Bank of Commerce,[17] the Court interpreted gross receipts as including those which were actually or constructively received, viz.:Actual receipt of interest income is not limited to physical receipt. Actual receipt may either be physical receipt or constructive receipt. When the depository bank withholds the final tax to pay the tax liability of the lending bank, there is prior to the withholding a constructive receipt by the lending bank of the amount withheld. From the amount constructively received by the lending bank, the depository bank deducts the final withholding tax and remits it to the government for the account of the lending bank. Thus, the interest income actually received by the lending bank, both physically and constructively, is the net interest plus the amount withheld as final tax.
	GR NO. 139786 2006-09-27	CIR v. CITYTRUST INVESTMENT PHILS. SANDOVAL-GUTIERREZ, J.
The issue of whether the 20% FWT on a bank's interest income forms part of the taxable gross receipts for the purpose of computing the 5% GRT is no longer novel. This has been previously resolved by this Court in a catena of cases, such as China Banking Corporation v. Court of Appeals,[15] Commissioner of Internal Revenue v. Solidbank Corporation,[16] Commissioner of Internal Revenue v. Bank of Commerce,[17] and the latest, Commissioner of Internal Revenue v. Bank of the Philippine Islands.[18]
	GR NO. 147375 2006-06-26	CIR v. BANK OF PHILIPPINE ISLANDS TINGA, J.
The issues raised by the Commissioner have already been ruled upon in his favor by this Court in China Banking Corporation v. Court of Appeals[10] and reiterated in Commissioner of Internal Revenue v. Solidbank Corporation[11] and more recently in Commissioner of Internal Revenue v. Bank of Commerce.[12] Consequently, the petition must be granted.