LAZI BAY RESOURCES DEVELOPMENT, INC., petitioner, vs. COMMISSIONER OF INTERNAL REVENUE, respondents.

SPECIAL FORMER FIFTEENTH DIVISION[CA-G.R. SP No. 73148. March 21, 2007.]LAZI BAY RESOURCES DEVELOPMENT, INC., petitioner, vs. COMMISSIONER OF INTERNAL REVENUE, respondents.D E C I S I O NREYES, B., J p:Challenged by way of a petition for review under Rule 43 of the Rules of Court is the decision rendered by the Court of Tax Appeals dated June 27, 2002 which granted in part the petitioners claim for tax refund in the amount of P2,658,582.7. Similarly assailed is the order of the tax court dated September 16, 2002 which junked the petitioner's motion for partial reconsideration. The following summation of facts is undisputed:Petitioner Lazi Bay Resources Development, Inc. is a domestic corporation engaged in the mining business, which includes exploration, development and operation of mining properties for purposes of commercial production of limestone for the export abroad (Rollo, p. 46).The petitioner company is registered with the Bureau of Internal Revenue as a value-added taxpayer on February 1, 1996 with Tax Identification No. 004-656-458-VAT/RDO Control No. 96-047-005989 (ibid., p. 47).The petitioner is likewise registered with the...