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Team Energy Corporation (formerly Mirant Pagbilao Corp.) Vs. Commissioner of Internal Revenue

TEAM ENERGY CORPORATION (formerly MIRANT PAGBILAO CORP.), Petitioner, vs. COMMISSIONER OF INTERNAL REVENUE, Respondent.

G.R. No. 190928 | 2014-01-13

THIRD DIVISION
 
D E C I S I O N

PERALTA, J.:

Before us is a Petition for Review on Certiorari under Rule 45 of the Rules of Court which seeks to reverse and set aside the Decision1 dated August 14, 2009 and Resolution2 dated January 5, 2010 of the Court of Tax Appeals(CTA) End Banc in CTA EB No. 422, which modified the Decision3 dated May 16, 2008 and Resolution4 dated September 8, 2008 of the CTA First Division, insofar as it reduced the amount of refund granted from P69,618,971.19 to P51,134,951.40.

The facts follow.

On the following dates, petitioner filed with the Bureau of Internal Revenue (BIR) its first to fourth...