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COMMISSIONER OF INTERNAL REVENUE, PETITIONER, VS. STANDARD CHARTERED BANK, RESPONDENT.

COMMISSIONER OF INTERNAL REVENUE, PETITIONER, VS. STANDARD CHARTERED BANK, RESPONDENT.

G.R. No. 192173 | 2015-07-29

FIRST DIVISION
 
DECISION

PEREZ, J.:

For the Court’s consideration is a Petition for Review on Certiorari which seeks to reverse and set aside the 1 March 2010 Decision[1] and the 30 April 2010 Resolution[2] of the Court of Tax Appeals (CTA) En Banc in CTA EB Case No. 522, affirming in toto the Decision[3] and Resolution[4] dated 27 February 2009 and 29 July 2009, respectively, of the Second Division of the CTA (CTA in Division) in CTA Case No. 7165. The court a quo cancelled and set aside the Formal Letter of Demand and Assessment Notices dated 24 June 2004 issued by petitioner against respondent for deficiency income tax, final...