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CIR vs General Foods (Phils)

COMMISSIONER OF INTERNAL REVENUE, petitioner, vs. GENERAL FOODS (PHILS.), INC., respondent.

G.R. No. 143672 | 2003-04-24

D E C I S I O N

CORONA, J.:

Petitioner Commissioner of Internal Revenue (Commissioner) assails the resolution[1] of the Court of Appeals reversing the decision[2] of the Court of Tax Appeals which in turn denied the protest filed by respondent General Foods (Phils.), Inc., regarding the assessment made against the latter for deficiency taxes.

The records reveal that, on June 14, 1985, respondent corporation, which is engaged in the manufacture of beverages such as "Tang," "Calumet" and "Kool-Aid," filed its income tax return for the fiscal year ending February 28, 1985. In said tax return, respondent corporation...