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Commissioner of Internal Revenue Vs. Manila Electric Company

COMMISSIONER OF INTERNAL REVENUE, Petitioner, vs. MANILA ELECTRIC COMPANY (MERALCO), Respondent.

G.R. No. 181459 | 2014-06-09

THIRD DIVISION
 
DECISION

PERALTA, J.:
 
Before the Court is a petition for review on certiorari under Rule 45 of the Revised Rules of Court which seeks to annul and set aside the Decision1 of the Court of Tax Appeals, dated October 15, 2007, and its1 Resolution2 dated January 9, 2008 denying petitioner's Motion for Reconsideration in the case entitled Commissioner of Internal Revenue v. Manila Electric Company (MERALCO), docketed as C.T.A EB No. 262.

The facts of this case are uncontroverted.

On July 6, 1998, respondent Manila Electric Company (MERALCO) obtained a loan from Norddeutsche Landesbank...