Title
Sy vs. Central Bank of the Philippines
Case
G.R. No. L-41480
Decision Date
Apr 30, 1976
Gonzalo Sy Trading's Special Import Permit, valid for the 1968 Christmas season, expired by 1970; seized goods violated Central Bank Circular No. 289, upheld by Supreme Court.

Case Summary (G.R. No. L-62449)

Petitioner

Gonzalo Sy Trading sought a Special Import Permit (“SIP”) to import fresh apples, oranges, grapes, lemons and other fruits from Japan on a “no-dollar” basis, invoking urgent seasonal demand for Christmas 1968.

Respondent

The Central Bank of the Philippines, under its Circulars and Monetary Board resolutions, regulated foreign exchange and approved or denied no-dollar importation permits.

Key Dates

• September 28, 1968 – Petitioner’s initial SIP request for US$715,000
• November 19, 1968 – Monetary Board Resolution No. 2038 grants SIP of US$350,000 for Christmas 1968, subject to 100% special time deposit for 120 days
• February 25, 1969 – First importation under SIP
• June & September 1970 – Customs seizure of fresh-fruit shipments allegedly in excess of SIP validity
• September 21, 1970 – Petition for mandamus filed in CFI, later consolidated with injunction case
• November 27, 1971 – CFI judgment dismisses mandamus and orders enforcement of seizure proceedings
• April 30, 1976 – Supreme Court decision

Applicable Law

• 1935 Philippine Constitution (in force in 1976 for central bank powers)
• Republic Act No. 265 (Central Bank Act of 1948), Sections 2 & 14
• Central Bank Circulars No. 247 (July 1967), No. 260, No. 269 (Feb. 1970), No. 289, No. 294 & No. 295 (Mar. 1970)
• Tariff and Customs Code, Section 2530(f) on forfeiture for importations contrary to law
• Civil Code Articles 1159 & 1315 on contractual obligations
• Administrative-law principles on licenses/permits and estoppel

Factual Background

Petitioner corresponded with Deputy Governor Brinas and the Monetary Board, emphasizing that its requested SIP was “only for the Christmas season” of 1968, citing perishability and market demand. After initial denial under Circular 247, the Monetary Board granted a reduced SIP of US$350,000, limited to Japan origin, subject to 100% special time deposit for 120 days.

Permit Application and Grant

Monetary Board Resolution No. 2038 (Nov. 19, 1968) authorized “no-dollar” imports of fresh fruits from Japan up to US$350,000, imposing normal customs duties and a 100% time deposit. Petitioner unsuccessfully sought reduction of deposit to 20%.

Permit Usage and Expiry

Petitioner made imports from February 1969 through March 1970. By June 1970, US$314,142.51 had been utilized, leaving US$35,857.49. Petitioner requested extension of origin to other non-communist countries and continuation beyond 1968, but Deputy Governor Brinas (Nov. 19, 1969) and Assistant to the Governor Lomotan (Apr. 17, 1970) confirmed the SIP was intended for Christmas 1968 only.

Seizure Proceedings and Customs Action

Customs seized multiple fresh-fruit shipments in June and September 1970, citing violation of Circular No. 289 (ban on non-essential consumer goods) and Tariff Code Section 2530(f). The Monetary Board instructed Customs to disregard any bank release certificates for such imports.

Trial Court Proceedings

Petitioner obtained a preliminary injunction releasing June 1970 goods on bond (Civil Case No. 80655). In petition for mandamus (Civil Case No. 81051), petitioner sought release certificates and damages. The trial court dismissed the mandamus, ordered seizure proceedings enforced, and directed forfeiture of bonds securing released goods.

Supreme Court Ruling on Permit Validity

The Supreme Court held the SIP lapsed after Christmas 1968. A permit is a revocable administrative privilege, not a contract or vested property right. Absent an express expiry date, its duration is governed by the representations that secured it—in this case, the Christmas 1968 season.

Revocability of Licenses and Permits

Under administrative-law principles, licenses/permits are special privileges subject to revocation and limited by the authority’s underlying power. The SIP’s absence of an expiry date did not render it perpetual; it could not outlast the life of its basic authority or the petitioner’s own stipulation of purpose and period.

Estoppel and Promissory Estoppel

Petitioner’s reliance on Director Antiporda’s November 21, 1969 letter authorizing continued issuance of release certificates was insufficient to create estoppel. An administrative agent cannot alter a permit’s terms or extend its duration; only the Monetary Board could do so. Moreover, the Government is not estopped by mistakes of i

...continue reading

Analyze Cases Smarter, Faster
Jur helps you analyze cases smarter to comprehend faster—building context before diving into full texts.