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CIR vs. Mirant Pagbilao Corporation

COMMISSIONER OF INTERNAL REVENUE, PETITIONER, VS. MIRANT PAGBILAO CORPORATION (NOW TEAM ENERGY CORPORATION),* RESPONDENT.

G.R. No. 180434 | 2016-01-20

DECISION
 
REYES, J.:
 
This appeal by Petition for Review on Certiorari[1] seeks to reverse and set aside the Decision[2] dated September 11, 2007 and Resolution[3] dated November 7, 2007 of the Court of Tax Appeals (CTA) en banc in E.B. Case Nos. 216 and 225, affirming the Decision[4] dated August 31, 2005 of the CTA Second Division in CTA Case No. 6417, ordering petitioner Commissioner of Internal Revenue (CIR) to issue a refund or a tax credit certificate in the amount of P118,756,640.97 in favor of Mirant Pagbilao Corporation[5] (MPC).
 
The Facts

MPC is a duly-registered Philippine...