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Metropolitan Bank and Trust Co., Vs. Commissioner of Internal Revenue

METROPOLITAN BANK AND TRUST CO., Petitioner, versus COMMISSIONER OF INTERNAL REVENUE, Respondent.

G.R. No. 178797 | 2009-08-04

D E C I S I O N


CHICO-NAZARIO, J.:

Before this Court is a Petition for Review on Certiorari under Rule 45 of the Revised Rules of Court seeking the reversal and setting aside of the Decision[1] dated 21 May 2007 and Resolution[2] dated 9 July 2007 of the Court of Tax Appeals (CTA) en banc in C.T.A. E.B. No. 247. The CTA en banc affirmed the assessment by the Bureau of Internal Revenue (BIR) against petitioner Metropolitan Bank and Trust Co. (Metrobank) for deficiency Documentary Stamp Tax (DST) for taxable year 1999.

There is no dispute as to the antecedent facts of this case.

Metrobank is a domestic corporation and a duly licensed...