This case has been cited 2 times or more.
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2014-06-09 |
PERALTA, J. |
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| Consequently, such certification was used by petitioner as basis in issuing BIR Ruling No. DA-342-2003, which categorically declared that the interest income remitted by respondent MERALCO to NORD/LB Singapore Branch is not subject to Philippine income tax, and accordingly, not subject to ten percent (10%) withholding tax. Contrary to petitioner's view, therefore, the same constitutes a compelling basis for establishing the tax-exempt status of NORD/LB, as was held in Miguel J. Ossorio Pension Foundation, Incorporated v. Court of Appeals,[27] which may be applied by analogy to the present case, to wit: Similarly, in BIR Ruling [UN-450-95], Citytrust wrote the BIR to request for a ruling exempting it from the payment of withholding tax on the sale of the land by various BIR-approved trustees and tax-exempt private employees' retirement benefit trust funds represented by Citytrust. The BIR ruled that the private employees' benefit trust funds, which included petitioner, have met the requirements of the law and the regulations and, therefore, qualify as reasonable retirement benefit plans within the contemplation of Republic Act No. 4917 (now Sec. 28 [b] [7] [A], Tax Code). The income from the trust fund investments is, therefore, exempt from the payment of income tax and, consequently, from the payment of the creditable withholding tax on the sale of their real property. | |||||
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2012-08-29 |
ABAD, J. |
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| The key question in these cases is the authenticity of the deed of sale that the Arguelleses supposedly executed in favor of the Trinidads and that the latter used in transferring the property title in their names. Both the RTC and the CA held that the deed was not authentic. Ordinarily, being a question of fact, the RTC's finding, affirmed by the CA, carries great weight. But, here, since such finding appears to be based on a flawed drawing of conclusions from the facts, the Court is justified in taking a second look.[4] | |||||