This case has been cited 3 times or more.
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2015-01-28 |
MENDOZA, J. |
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| The original decision of the CTA-Division made plain that the petitioner complied with the above requisites in so far as the reduced amount of P2,737,903.34 was concerned. In the amended decision, however, it was pointed out that because petitioner failed to present the quarterly ITRs of the subsequent year, there was an impossibility of determining compliance with the irrevocability rule under Section 76 of the NIRC as in those documents could be found evidence of whether the excess CWT was applied to its income tax liabilities in the quarters of 2004. The irrevocability rule under Section 76 of the NIRC means that once an option, either for refund or issuance of tax credit certificate or carry-over of CWT has been exercised, the same can no longer be modified for the succeeding taxable years.[20] For said reason, the CTA-En Banc affirmed the conclusion in the amended decision that because of the said impossibility, the claim for refund was not substantiated. | |||||
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2015-01-28 |
MENDOZA, J. |
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| 3) Establish the fact of withholding by a copy of a statement duly issued by the payor to the payee showing the amount paid and the amount of tax withheld.[19] | |||||
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2010-09-29 |
CARPIO, J. |
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| The issue presented in this case is identical to the issue already resolved by the Court in the recent case of Asiaworld Properties Philippine Corporation v. Commissioner of Internal Revenue.[12] In Asiaworld, the issue was whether the exercise of the option to carry-over the excess income tax credit, which shall be applied against the tax due in the succeeding taxable years, prohibits the claim for a refund in the subsequent taxable years for the unused portion of the excess tax credits. Ruling that the exercise of the option to carry-over precludes a claim for a refund, the Court explained: Section 76 of the NIRC of 1997 clearly states: "Once the option to carry-over and apply the excess quarterly income tax against income tax due for the taxable quarters of the succeeding taxable years has been made, such option shall be considered irrevocable for that taxable period and no application for cash refund or issuance of a tax credit certificate shall be allowed therefore." Section 76 expressly states that "the option shall be considered irrevocable for that taxable period" - referring to the period comprising the "succeeding taxable years." Section 76 further states that "no application for cash refund or issuance of a tax credit certificate shall be allowed therefore" - referring to "that taxable period" comprising the "succeeding taxable years." | |||||