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Commissioner of Internal Revenue vs. Hantex Trading [DECISION]

COMMISSIONER OF INTERNAL REVENUE, Petitioner vs HANTEX TRADING CO., INC., Respondent.

G.R. No. 136975 | 2005-03-31

D E C I S I O N
 
CALLEJO, SR., J.:
 
Before us is a petition for review of the Decision[1] of the Court of Appeals (CA) which reversed the Decision[2] of the Court of Tax Appeals (CTA) in CTA Case No. 5126, upholding the deficiency income and sales tax assessments against respondent Hantex Trading Co., Inc.
 
 
The Antecedents

The respondent is a corporation duly organized and existing under the laws of the Philippines.  Being engaged in the sale of plastic products, it imports synthetic resin and other chemicals for the manufacture of its products.  For this purpose, it is required to file an Import Entry...