This case has been cited 2 times or more.
|
2013-02-12 |
CARPIO, J. |
||||
| In CIR v. Ironcon Builders and Development Corporation,[74] the Court put the issue in this manner: "Simply put, the sole issue the petition raises is whether or not the CTA erred in granting respondent Ironcon's application for refund of its excess creditable VAT withheld." The Commissioner argued that "since the NIRC does not specifically grant taxpayers the option to refund excess creditable VAT withheld, it follows that such refund cannot be allowed." Thus, this case is solely about whether the taxpayer has the right under the NIRC to ask for a cash refund of excess creditable VAT withheld. Again, nowhere in this case did the Court discuss, state, or rule that the filing dates of the administrative and judicial claims are inconsequential, as long as they are within the two-year prescriptive period. | |||||
|
2013-02-12 |
CARPIO, J. |
||||
| The CTA EB declared that Section 112(A) and (B) of the 1997 Tax Code both set forth the reckoning of the two-year prescriptive period for filing a claim for tax refund or credit over input VAT to be the close of the taxable quarter when the sales were made. The CTA EB also relied on this Court's rulings in the cases of Commissioner of Internal Revenue v. Aichi Forging Company of Asia, Inc. (Aichi)[30] and Commisioner of Internal Revenue v. Mirant Pagbilao Corporation (Mirant).[31] Both Aichi and Mirant ruled that the two-year prescriptive period to file a refund for input VAT arising from zero-rated sales should be reckoned from the close of the taxable quarter when the sales were made. Aichi further emphasized that the failure to await the decision of the Commissioner or the lapse of 120-day period prescribed in Section 112(D) amounts to a premature filing. | |||||