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Coral Bay vs. CIR

CORAL BAY NICKEL CORPORATION, Petitioner, vs. COMMISSIONER OF INTERNAL REVENUE, Responded. Present: SERENO, C.J, LEONARDO-DE CASTRO, BERSAMIN, PERLAS-BERNABE, and CAGUIOA,JJ.

G.R. No. 190506 | 2016-06-13

Republic of the Philippines
Supreme Court
Manila
 
FIRST DIVISION
 
 
DECISION
 
BERSAMIN, J.:
 
This appeal is brought by a taxpayer whose claim for the refund or credit pertaining to its alleged unutilized input tax for the third and fourth quarters of the year 2002 amounting to P50, 124,086. 7 5 had been denied by the Commissioner of Internal Revenue. The Court of Tax Appeals (CTA) En Banc and in Division denied its appeal.
 
We sustain the denial of the appeal.
 
Antecedents
 
The petitioner, a domestic corporation engaged in the manufacture of nickel and/or cobalt mixed sulphide, is a VAT entity registered...