BIR Ruling [DA-098-96]

February 29, 1996 BIR RULING [DA-098-96] Sycip Gorres Velayo & Co. P.O. Box 256, Makati Central Post Office 1299 Metro Manila Attention: Atty . E . C . Alcantara Tax Division Gentlemen : In connection with the internal revenue tax case of your client, Citytrust Realty Corporation, 379 Sen. Gil Puyat Avenue, Makati City, involving the amount of P10,654,000.00 representing deficiency income tax for the year 1987, please be informed that after a careful study of the facts of this case and the law pertinent thereto, this Office has finally resolved and hereby holds that your client is not liable to the payment of said assessment. Accordingly, the said assessment is hereby withdrawn and cancelled and this case considered closed. cdtech Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue