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Barcelon, Roxas Securities, Inc. vs. Commissioner of Internal Revenue.

BARCELON, ROXAS SECURITIES, INC. (now known as UBP Securities, Inc.) Petitioner, versus COMMISSIONER OF INTERNAL REVENUE, Respondent.

G.R. No. 157064 | 2006-08-07

FIRST DIVISION

D E C I S I O N 

CHICO-NAZARIO, J.: 

This is a Petition for Review on Certiorari, under Rule 45 of the Rules of Court, seeking to set aside the Decision of the Court of Appeals in CA-G.R. SP No. 60209 dated 11 July 2002,[1] ordering the petitioner to pay the Government the amount of P826,698.31 as deficiency income tax for the year 1987 plus 25% surcharge and 20% interest per annum. The Court of Appeals, in its assailed Decision, reversed the Decision of the Court of Tax Appeals (CTA) dated 17 May 2000[2] in C.T.A. Case No. 5662. 

Petitioner Barcelon, Roxas Securities Inc. (now known as UBP Securities, Inc.) is...