Back

Far East Bank, et al. vs. Commissioner of Internal Revenue.

FAR EAST BANK AND TRUST COMPANY as Trustee of Various Retirement Funds, Petitioner, versus COMMISSIONER OF INTERNAL REVENUE and THE COURT OF APPEALS, Respondents.

G.R. No. 138919 | 2006-05-02

THIRD DIVISION

D E C I S I O N


Tinga, J.

The present petition evokes some degree of natural sympathy for the petitioner, as it seeks the refund of taxes wrongfully paid on the income earned by several retirement funds of private employees held by petitioner in their behalf. The steps undertaken by petitioner to seek the refund were woefully error-laden, yet their claims still received due solicitation from this Court. But in the end, the errors committed are just too multiple as well as consequential, and the claim for refund not sufficiently proven. Impulses may suggest that we reverse and grant, but logic and the law dictate that...