FSM CINEMAS, INC. v. COMMISSIONER OF INTERNAL REVENUE

I. REPUBliC OF THE PHiliPPINES Conti or Tax Appeals QUEZON CITY . THIRD DIVISION *************** FSM CINEMAS, INC., CTA CASE NO. 7074 Petitioner, Members : - versus - BAUTISTA, Chairperson PALANCA-ENRIQUEZ, and COTANGCO-MANALASTAS, JJ. COMMISSIONER OF INTERNAL Promulgated: REVENUE, APR 4 2011 Respondent. ~~~ 9 .� .n--o . ,.._ � x- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - x RESOlUTION For resolution are : I . petitioner's " Motion to Declare the Alleged Deficiency Income Tax and Value-Added Tax Assessments Extinguished Under Republic Act No. 9480" filed on February 10, 2010; 2. respondent's " Comment/Opposition (On Petitioner's Motion to Declare Alleged Oeficiency Income tax & VAT Assessments Extinguished under Republic Act No. 9480)" filed on March 31, 2010; 3. petitioner's "Comments (to Respondent's Comment/Opposition dated March 29,2010)" filed on September 28, 2010; and 4. petitioner's " Compliance/Submission " filed on March 4, 2011.

.RESOLUTION CTA CASE NO. 7074 On November 19, 2010, this Court issued a Resolution ordering petitioner to file the originals or certified true copies of the tax amnesty documents pertinent to its Motion to Declare the Alleged Deficiency Income Tax and Value-Added Tax Assessments Extinguished Under Republic Act No. 9480. Hence, the Compliance/Submission filed by petitioner, submitting the following tax amnesty documents (all faithful reproduction of the originals, except for the Balance Sheet as of December 31, 2005, which is an original copy) to further support its Motion to Declare the Alleged Deficiency Income Tax and Value-Added Tax Assessments Extinguished Under Republic Act No. 9480: 1. BIR Form No. 2116 -Tax Amnesty Return; 2. BIR Form No. 0617 - Tax Amnesty Payment Form; 3. Notice of Availment of Tax Amnesty; 4. Statement of Assets, Liabilities and Networth as of 31 December 2005; 5. Balance Sheet as of 31 December 2005 (which forms an integral part of the Audited Financial Statements of FSM Cinemas, Inc. as of and for the year ended 31 December 2005; and 6. Bank Official Receipt issued by an authorized agent bank covering the payment of amnesty tax on 04 March 2008. Upon examination thereof, this Court finds that the above documents have sufficiently complied with the provisions of Republic Act (R.A.) No. 9480 and its implementing rules and regulations. I'

f:.ESOLUTION CTA CASE NO. 7074 WHEREFORE, premises considered, petitioner's "Motion to Declare the Alleged Deficiency Income Tax and Value-Added Tax Assessments Extinguished under Republic Act No. 9480," is hereby GRANTED. The Petition for Review in the above-captioned case is deemed PARTIALLY WITHDRAWN and correspondingly treated as CLOSED AND TERMINATED but only insofar as the alleged deficiency Ihcome Tax and Value Added Tax assessments are concerned, subject to the provisions of Republic Act No. 9480. SO ORDERED. OLGA ~~(::JtJl.,dte Justice Associate Justice . . LA-/~~ AMEtt;;;; ~~TANGCO-MANALASTAS Associate Justice