Petronila Tupaz v Hon. Benedicto B. Ulep; G.R. No. 127777; 01 Oct 1999
FACTS: On 16 July 1984, a notice of assessment was issued against El Oro Engravers Corporation finding it liable for deficiency corporate income tax for taxable year 1979. For failure to pay said tax liability, two informations were filed against petitioner and her husband as corporate officers of El Oro. In her petition on certiorari, petitioner contended that the period of assessment for taxable year 1979 has prescribed, citing B. P. Blg. 700 which shortened the prescriptive period from five years to three years. ISSUE(S): Whether or not the period of assessment has prescribed. HELD: NO. B.P. Blg. 700, effective…