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Fort Bonifacio Development Corporation vs. Commissioner of Internal Revenue

Fort Bonifacio Development Corporation, Petitioner, vs. Commissioner of Internal Revenue, Respondent.

G.R. Nos. 164155 & 175543 | 2013-02-25

THIRD DIVISION
DECISION
 
ABAD, J.: 
 
These cases are concerned with the imposition of an assessment for unpaid documentary stamp tax (DST) allegedly due on the Government's sale of the military land in Fort Bonifacio to Fort Bonifacio Development Corporation (FBDC), then a wholly-owned government corporation. 
 
The Facts and the Case 
 
In 1992 Congress enacted Republic Act (R.A.) 7227 creating the Bases Conversion Development Authority (BCDA) for the purpose of raising funds through the sale to private investors of military camps located in bustling Metro Manila. To do this,...