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Revenuev Toledo Power Corp News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Payments made during tax assessments cannot be refunded

IN Commissioner of Internal Revenue v Toledo Power Corp. (GR 259309, Feb. 13, 2023) (the Toledo Case), the Supreme Court overturned the findings of the Court of Tax Appeals (CTA) both in division and en banc, and held that payments voluntarily made by a taxpayer in the course of a tax assessment cannot later be refunded in favor of the taxpayer.

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