PINEBRIDGE INVESTMENTS ASIA LIMITED v. COMMISSIONER OF INTERNAL REVENUE

REPUBLIC OF THE PHILIPPINES Court of Tax Appeals QUEZON CITY Third Division PINEBRIDGE INVESTMENTS CTA CASE NO. 10943 ASIA LIMITED, Petitioner, Members: -versus- MODESTO-SAN PEDRO, Chairperson, and FERRER-FLORES, JJ COMMISSIONER OF Promulgated: INTERNAL REVENUE, Respondent. ~JUl 0 1 2026 X -----------------------------------------------------c__:z:::::::::c;2____9_:_p_z;__,~-~-'-------------------- X RESOLUTION For the Court's resolution is petitioner's Motion with Leave ofCourt to Withdraw Petition for Review, filed on May 21 , 2026, with respondent's Comment thereto, filed on June 4, 2026. In brief, petitioner seeks to withdraw the instant Petition after ascertaining that the cost of pursuing this refund case would equal or exceed the value of a favorable decision. As per Commissioner ofInternal Revenue v. Nippon Express (Phils.) Corporation, 1 an appeal before this Court may be withdrawn ( 1) at any time before the case is submitted for resolution; or (2) even after such submission and the filing ofthe appellee's briefor equivalent pleading, with the discretion of the Court. Considering that this case has not yet been submitted for decision, the Court deems it appropriate to grant the withdrawal. That said, the withdrawal of an appeal results in the assailed decision becoming final and executory.2 Consequently, the various issuances petitioner previously sought to annul shall become final and executory, any compromise reached by the parties notwithstanding. G.R. No. 212920, September 16, 20 15. Central Luzon Drug v. Commissioner ofInternal Revenue, G. R. No. 181 37 1, March 2, 20 II .

RESOLUTION CTA CASE NO. I 0943 Page 2 of2 ACCORDINGLY, petitioner's Withdrawal ofPetition, filed on May 21, 2026, is hereby GRANTED. The instant Petition for Review is deemed WITHDRAWN, and this case is now CLOSED and TERMINATED. SO ORDERED.