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Commissioner Of Internal Revenue Vs. FMF Development Corp.

COMMISSIONER OF INTERNAL REVENUE, Petitioner, versus FMF DEVELOPMENT CORPORATION, Respondent.

G.R. No. 167765 | 2008-06-30

DECISION

QUISUMBING, J.:

For review on certiorari is the Decision[1] and Resolution[2] dated January 31, 2005 and April 14, 2005, respectively, of the Court of Appeals in CA- G.R. SP No. 79675, which affirmed the Decision[3] dated March 20, 2003 of the Court of Tax Appeals (CTA) in C.T.A. Case No. 6153. In effect, the Court of Appeals cancelled the assessment notice issued by the Bureau of Internal Revenue (BIR) for the deficiency income and withholding taxes for the taxable year 1995 of respondent FMF Development Corporation (FMF), a domestic corporation organized and existing under Philippine laws. 

The facts are as follows: 

On...