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H. TAMBUNTING PAWNSHOP, INC., PETITIONER, VS. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

H. TAMBUNTING PAWNSHOP, INC., PETITIONER, VS. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

G.R. No. 173373 | 2013-07-29

FIRST DIVISION
 
D E C I S I O N

BERSAMIN, J.:

To be entitled to claim a tax deduction, the taxpayer must competently establish the factual and documentary bases of its claim.
Antecedents
 
H. Tambunting Pawnshop, Inc. (petitioner), a domestic corporation duly licensed and authorized to engage in the pawnshop business, appeals the adverse decision promulgated on April 24, 2006,[1]  whereby the Court of Tax Appeals En Banc (CTA En Banc) affirmed the decision of the CTA First Division ordering it to pay deficiency income taxes in the amount of P4,536,687.15 for taxable year 1997, plus 20% delinquency interest computed from August 29,...