BANK OF AMERICA N.A.-MANILA BRANCH v. COMMISSIONER OF INTERNAL REVENUE

REPUBLIC OF THE PHILIPPINES Court ofTax Appeals QUEZON CITY ENBANC BANK OF AMERICA N.A.- MANILA C.T.A. E.B. NO. 111 BRANCH, (C.T.A. CASE NO. 6144) Petitioner, Present: -versus- ACOSTA, Presiding Justice CASTANEDA, JR., COMMISSIONER OF INTERNAL BAUTISTA, REVENUE, UY, CASANOVA, and Respondent. PALANCA-ENRIQUEZ, JJ. Promulgated: MAR 0 9 200~~tz-l~~u~ X ------------------------------------------------------------------------------------ X RESOLUTION Finding merit in the "Joint Motion To Withdraw Petition For Review" filed on February 23 , 2006 by petitioner Bank of America N.A.- Manila Branch, and respondent Commissioner of Internal Revenue stating that petitioner and respondent entered into a compromise settlement, and on September 26, 2005 , respondent approved petitioner's offer for compromise settlement pursuant to Section 204 of the Tax Code, and that pursuant to respondent's letter dated October 26, 2005 approving petitioner' s application for compromise, petitioner paid on October 28,

C.T.A. E.B. NO. 111 2 (C.T.A. CASE NO . 6144) RESOLUTION 2005 , the amount ofP217,503 ,545.07, equivalent to the approved offer of petitioner to pay 40% of the basic tax assessed, and on December 13 , 2005, a Certificate of Availment was issued by Commissioner of Internal Revenue Jose Mario C. Bufiag in favor of petitioner; the motion is hereby GRANTED, and the case in caption is deemed withdrawn. WHEREFORE, the above-captioned case is hereby considered CLOSED and TERMINATED. SO ORDERED. ~k .c~ ERNESTO D. ACOSTA Presiding Justice ~fogC~~A~R: (On Official Business) Associate Justice LOVELL R. BAUTISTA E~UY Asso � stice Associate Justice a CAESAR A. CASANOVA Associate Justice ~N~-~R1QUEZ Associate Justice