FOSROC PHILIPPINES, INC., v. COMMISSIONER OF INTERNAL REVENUE

REPUBLIC OF THE PHILIPPINES COURT OF TAX APPEALS QUEZON CITY SECOND DIVISION FOSROC PHILIPPINES, INC. CTA CASE NO. 9630 Petitioner, Members: -versus- CASTANEDA, JR., Chairperson, MINDARO-GRULLA, and BACORRO-VILLENA, JJ. COMMISSIONER OF v Promulgated:JAN zJ 2020 INTERNAL REVENUE, Respondent. _. ~7 1 j: o(j�~ X- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - X RESOLUTION For the Court's resolution is petitioner's "Motion to Withdraw Petition and Cash Bond", filed on 18 October 2019, without comment or opposition from respondent Commissioner of Internal Revenue (CIR) who failed to file the same despite notice. Following the decision of Atty. Elvira Veronica Escueta-Duavit, as liquidator of petitioner Fosroc Philippines, Inc. (in the liquidation proceedings before Branch 58 of the Regional Trial Court (RTC) of Pasig City) to settle petitioner's remaining tax liabilities pursuant to the Financial Rehabilitation and Insolvency Act, and without opposition from respondent CIR, the Court sees no further reason to proceed with the case. WHEREFORE , petitioner's "Motion to Withdraw Petition and Cash Bond" is hereby GRANTED. Accordingly, petitioner's Petition for Review filed on 14 July 2017 is WITHDRAWN and the case is hereby CLOSED and TERMINATED. Consequently, petitioner's cash bond posted pursuant to its "Urgent Motion to Suspend Collection of Taxes" filed on 17 November 2017 in the amount of P4,214,025.18 is hereby ordered RELEASED to it.

CTA CASE No. 9630 Fosroc Philippines, Inc. v. Commissioner of Internal Revenue RESO L UTION Page 2 x----------------------------- ------- - -------x SO ORDERED. Q.. c. ewt-~~)~� JUANifO C. CASTANED~, JR. Associate Justice ~ N Me.:~- (;~ CIELITO N: MINl5ARO-GRULLA Associate Justice -VILLENA