About this document
CIR vs Isabela Cultural Corp Tax Ruling by frankie is a document available to read on EtoBox.
The CIR issued assessment notices to ICC for deficiency income tax and expanded withholding tax for tax year 1986. ICC claimed the expenses were deductible as they received billing statements in 1986, even though some services were rendered in 1984-1985. The CTA and CA ruled in favor of ICC, finding the deductions and interest income were properly claimed. The Supreme Court partially affirmed, finding ICC could not deduct 1984-1985 professional fees as the amount was determinable earlier using accrual accou
- Author
- frankie
- Language
- EN