GALEO EQUIPMENT CORPORATION v. COMMISSIONER OF INTERNAL REVENUE

REPUBLIC OF THE PHILIPPINES COURT OF TAX APPEALS QUEZON CITY THIRD DIVISION GALEO EQUIPMENT CORPORATION, Petitioner, CTA CASE NO. 9486 -versus- Members: BAUTISTA, Chairperson; FABON-VICTORINO, and RINGPIS-LIBAN,JL COMMISSIONER OF INTERNAL REVENUE, Respondent. Promulgated: RESOLUTION For resolution is the petitioner's "Manifestation and Motion to Withdraw Petition for Review", stating that upon petitioner's further re- evaluation of the significant costs which it may incur in connection with the instant case, the Management of petitioner has decided to withdraw its judicial claim for the refund of or issuance of a TCC for its input VAT attributable to its xero-rated sales for the 2nd, 3rd, and 4th Quarters of CY 2014; and that petitioner is aware that the withdrawal of the case will result in permanently forfeiting its judicial claim for the refund of or tax credit of its input VAT as well as the amount of filing fees which has been paid in connection with the filing of the Petition. Respondent filed his "Comment" submitting the resolution of the Motion to the sound discretion of the Court, provided that in case the petition shall be dismissed, the same should be with prejudice.

RESOLUTION CTA CASE NO. 9486 Page 2 of2 Finding merit and there being no objection on the part of respondent Commissioner of Internal Revenue, hence, petitioner's "Manifestation and Motion to Withdraw Petition for Review" is hereby GRANTED. WHEREFORE, the instant petition is deemed withdrawn. Accordingly, the instant case is deemed closed and terminated. SO ORDERED. LOVEtR. BAUTISTA Associate Justice (On Leave) ESPERANZA R. PABON-VICTORINO Associate Justice ~. ~~c.-._' MA. BELEN M. RINGPIS-LIBAN Associate Justice