FIRST DIVISION
[G.R. No. 212961. September 1, 2014.]
COMMISSIONER OF INTERNAL REVENUE, petitioner,vs. WATERFRONT CEBU CITY HOTEL AND CASINO, INC., respondent.
NOTICE
Sirs/Mesdames :
Please take notice that the Court, First Division, issued a Resolution datedSeptember 1, 2014which reads as follows: HTcADC
"G.R. No. 212961 (Commissioner of Internal Revenue v. Waterfront Cebu City Hotel and Casino, Inc.). After a judicious review of the records, the Court resolves to DENY the instant petition and AFFIRM the January 29, 2014 Decision 1 and May 27, 2014 Resolution 2 of the Court of Tax Appeals (CTA) En Banc in CTA EB No. 991 for failure of the Commissioner of Internal Revenue to show that the CTA En Banc committed any reversible error in holding that Waterfront Cebu City Hotel and Casino, Inc. (respondent) had no deficiency income tax.
As correctly found by the CTA En Banc, a deficiency income tax is the amount by which the tax imposed by Title II of the National Internal Revenue Code (NIRC) exceeds the amount shown as the tax by the taxpayer in his Income Tax Return. 3 In the present case, respondent's tax credits far exceed the income tax imposed by the NIRC. The overstatement by P1,506,576.00 of the excess tax credits carried over to taxable year 2006 and adjusted disallowed creditable tax withheld at source of P212,695.83 merely reduced respondent's tax overpayment in 2006 to P7,770,597.92, and did not amount to a deficiency income tax.
The Court further resolves to require petitioner to SUBMIT within five (5) days from notice hereof, a soft copy in compact disc, USB or e-mail containing the PDF file of the signed petition for review on certiorari and annexes pursuant to the Resolution dated February 25, 2014 in A.M. Nos. 10-3-7-SC and 11-9-4-SC.
SO ORDERED."SERENO, C.J., on leave; VELASCO, JR., J., acting member per S.O. No. 1772 dated August 28, 2014.
Very truly yours,
(SGD.) EDGAR O. ARICHETADivision Clerk of Court
Footnotes
1.Rollo, pp. 29-37. Penned by Presiding Justice Roman G. Del Rosario with Associate Justices Juanito C. Castañeda, Jr., Lovell R. Bautista, Erlinda P. Uy, Caesar A. Casanova, Esperanza R. Fabon-Victorino, Cielito N. Mindaro-Grulla, Amelia R. Cotangco-Manalastas, and Ma. Belen M. Ringpis-Liban, concurring.
2.Id. at 38-40. Penned by Presiding Justice Roman G. Del Rosario with Associate Justices Juanito C. Castañeda, Jr., Lovell R. Bautista, Caesar A. Casanova, Esperanza R. Fabon-Victorino, Cielito N. Mindaro-Grulla, Amelia R. Cotangco-Manalastas, and Ma. Belen M. Ringpis-Liban, concurring; Associate Justice Erlinda P. Uy, on leave.
3. See Section 56 (B) of the NIRC.