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Hijo Plantation, Inc. vs. Central Bank of the Phils

HIJO PLANTATION, INC., DAVAO FRUITS CORPORATION, TWIN RIVERS PLANTATION, INC. and MARSMAN & CO., INC., for themselves and in behalf of other persons and entities similarly situated, petitioners, vs. CENTRAL BANK OF THE PHILIPPINES, respondent.

G.R. No. L-34526 | 1988-08-09

D E C I S I O N


PARAS, J.:

This is a petition for certiorari and prohibition which seeks: (1) to declare Monetary Board Resolution No. 1995, series of 1971, as null and void; (2) to prohibit the Central Bank from collecting the stabilization tax on banana exports shipped during the period January 1, 1972 to June 30, 1982; and (3) a refund of the amount collected as stabilization tax from the Central Bank.

The facts of this case as culled from the records are as follows:

Hijo Plantation, Inc., Davao Fruits Corporation, Twin Rivers Plantation, Inc., and Marsman Plantation (Manifestation, Rollo, p. 18), collectively referred to herein as...