China Banking Corp. v. Commissioner of Internal Revenue

FIFTH DIVISION[CA-G.R. SP No. 63353. June 16, 2006.]CHINA BANKING CORPORATION, petitioner, vs. COMMISSIONER OF INTERNAL REVENUE, respondent.D E C I S I O NBARRIOS, J p:Petitioner China Banking Corporation (or hereafter China Bank) filed a claim for tax refund or credit with the Commissioner of Internal Revenue (or CIR). Without waiting for the CIR's ruling on its claim for refund, China Bank filed a petition for reviews with the Court of Tax Appeals (or CTA). The CTA denied this, decreeing that:IN THE LIGHT OF THE FOREGOING, the instant Petition for Review is DISMISSED for insufficiency of evidence.SO ORDERED. (p. 57, rollo)China Bank's Motion for Reconsideration having been denied, it went to this Court for relief via this petition, positing these issues for Our resolution:I. WHETHER OR NOT PETITIONER ERRONEOUSLY MADE OVERPAYMENT OF ITS GROSS RECEIPTS COVERING THE PERIOD FIRST QUARTER OF 1996 UP TO THE FOURTH QUARTER OF 1996, INCLUSIVE, IN THE LIGHT OF THE RULING IN "ASIAN BANK CORP. vs. COMMISSIONER OF INTERNAL REVENUE (CTA CASE NO. 4720)".II. WHETHER OR NOT RESPONDENT COMMISSIONER HAS...