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AB Leasing And Finance vs CIR

AB LEASING AND FINANCE CORPORATION, petitioner-appellant, vs. COMMISSIONER OF INTERNAL REVENUE, respondent-appellee.

G.R. No. 138342 | 2003-07-08

D E C I S I O N

CARPIO-MORALES, J.:

Before this Court is a petition for review on certiorari under Rule 45 of the Revised Rules of Court assailing the October 29, 1998 Decision and the April 19, 1999 Resolution of the Court of Appeals (CA) which upheld the July 2, 1997 Decision and the September 2, 1997 Resolution of the Court of Tax Appeals (CTA).

For taxable year 1993, petitioner AB Leasing and Finance Corporation had a net income of P1,775,832.00 for which it was liable to pay income tax in the amount of P621,541.00. It appeared, however, that for the year 1993, petitioner had made payments in the total amount of P1,594,756.00...