G.R. No. 159647 - Commissioner of Internal Revenue vs. Central Luzon Drug Corp.

Commissioner of Internal Revenue vs. Central Luzon Drug Corp.

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Title Supreme Court: Commissioner of Internal Revenue vs. Central Luzon Drug Corp.

Case: G.R. No. 159647

Decision Date: Apr 15, 2005

CLDC claimed a P904,769 tax credit for senior citizen discounts under RA 7432. SC ruled it as a tax credit, not deduction, valid even with net loss, voiding CIR's restrictive regulations.

domestic corporation

retailing

medicines

Very Long 42 min

END