Corona

FACTS: Petitioner filed its Annual Income Tax Return (ITR) for the taxable year 2000 declaring unutilized tax credits and opting to carry over said excess tax credit to the succeeding taxable year 2001. It filed its Annual ITR for the taxable year 2001 also stating overpayment of withholding tax and indicating therein the option “To be issued a Tax Credit Certificate” relative to said excess tax credit. On 09 August 2002, petitioner instituted a claim for refund or issuance of a tax credit certificate with the BIR of its unutilized creditable withholding tax. ISSUE(S): Whether or not the exercise of the option…

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FACTS: During the pre-assessment stage of the investigation of respondent for the year 1996, petitioner advised Enron’s representative of the latter’s tax deficiency, informed it of the proposed tax deficiency through a preliminary five-day letter and furnished Enron a copy of the audit working paper allegedly showing in detail the legal and factual bases of the assessment. On 26 May 1999, respondent received a formal assessment notice, itemizing therein the deductions disallowed and imposing the preferential rate of 5% on some items respondent categorized as costs. The legal and factual bases were, however, not indicated. ISSUE(S): Whether or not the…

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