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Commissioner of Internal Revenue Vs. Central Luzon Drug Corp.

COMMISSIONER OF INTERNAL REVENUE, Petitioner, versus CENTRAL LUZON DRUG CORPORATION, Respondent.

G.R. No. 159610 | 2008-06-12

D E C I S I O N


CARPIO, J.:

The Case

This petition for review on certiorari[1] assails the 13 August 2003 Decision[2] of the Court of Appeals in CA-G.R. SP No. 70480. The Court of Appeals dismissed the appeal filed by the Commissioner of Internal Revenue (petitioner) questioning the 15 April 2002 Decision[3] of the Court of Tax Appeals (CTA) in CTA Case No. 6054 ordering petitioner to issue, in favor of Central Luzon Drug Corporation (respondent), a tax credit certificate in the amount of P2,376,805.63, arising from the alleged erroneous interpretation of the term "tax credit" used in Section 4(a) of Republic Act No. (RA) 7432.[4]

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