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Engtek vs. CIR

SECOND DIVISION ENGTEK PHILIPPINES, INC., petitioner, vs. COMMISSIONER OF INTERNAL REVENUE, respondent. D E C I S I O N PALANCA-ENRIQUEZ, J p:

CTA Case No. 6644 | 2005-01-26

Is Engtek Philippines, Inc. (hereafter petitioner) entitled to a refund or tax credit for the amount of P7,500,000.00, representing payment of income tax on the declared cash dividends alleged to have been erroneously paid?

THE CASE

This issue is before Us in this Petition for Review. Petitioner seeks for a refund of the amount of Seven Million Five Hundred Thousand Pesos (P7,500,000.00), or in the alternative, for the issuance of tax credit certificate for said amount, representing income tax erroneously paid on April 10, 2001 to respondent.    

THE FACTS
Petitioner, a domestic corporation duly registered and organized under...