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Far East Bank & Trust Company vs. Commissioner of Internal Revenue.

Far East Bank & Trust Company, Petitioner, versus Commissioner of Internal Revenue, Respondent.

G.R. No. 149589 | 2006-09-15

SECOND DIVISION
 
R E S O L U T I O N 
 
CORONA, J.: 
 
Before this Court is a petition for review on certiorari of the decision[1] of the Court of Appeals (CA) in CA-G.R. SP No. 49597 dated January 31, 2001 and the resolution dated August 23, 2001 denying the motion for reconsideration.[2] 
 
Petitioner Far East Bank & Trust Company (FEBTC)[3] filed with the Bureau of Internal Revenue an application for a tax credit/tax refund of alleged excess payments of its gross receipts tax (GRT). FEBTC claimed it had overpaid its GRT for the 3rd and 4th quarters of 1994 and the entire 1995 amounting to...