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Jaka Investments Corporation Vs. Commissioner of Internal Revenue

JAKA INVESTMENTS CORPORATION, Petitioner, versus COMMISSIONER OF INTERNAL REVENUE, Respondent.

G.R. No. 147629 | 2010-07-28

D E C I S I O N


LEONARDO-DE CASTRO, J.:

Before the Court is a petition for review of the Decision[1] of the Court of Appeals dated August 22, 2000 sustaining the Court of Tax Appeals in denying petitioner's (JAKA Investments Corporation's) claim for refund of its alleged overpayment of documentary stamp tax and surcharges, as well as the Resolution[2] dated March 27, 2001 likewise denying petitioner's Motion for Reconsideration.

The antecedent facts are undisputed.

Sometime in 1994, petitioner sought to invest in JAKA Equities Corporation (JEC), which was then planning to undertake an initial public offering (IPO) and listing of its...