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Asia Trust vs. CIR

ASIATRUST DEVELOPMENT BANK, INC., Petitioner, vs. COMMISSIONER OF INTERNAL REVENUE, Respondent. x--------------------------x G.R. Nos. 201680-81 COMMISSIONER OF INTERNAL REVENUE, Petitioner, vs. ASIA TRUST DEVELOPMENT Respondent. Present: SERENO, C.J, Chairperson, LEONARDO-DE CASTRO, DEL CASTILLO, PERLAS-BERNABE, and CAGUIOA,JJ

G.R. No. 201530 | 2017-04-19

Republic of the Philippines
Supreme Court
Baguio City
 
FIRST DIVISION
 
DECISION
 
DEL CASTILLO, J.:
 
An application for tax abatement is deemed approved only upon the issuance of a termination letter by the Bureau of Internal Revenue (BIR).
 
These consolidated Petitions for Review on Certiorari1 under Rule 45 of the Rules of Court assails the November 16, 2011 Decision2 and the April 16, 2012 Resolution3 of the Court of Tax Appeals (CTA) En Banc in CTA EB Case Nos. 614 and 677.
 
Factual Antecedents
 
On separate dates in February 2000, Asiatrust Development Bank, Inc. (Asiatrust) received from the Commissioner...