CTA Case No. 4462 (Resolution)

REPUBLIC OF THE PHILIPPINES COURT OF TAX APPEALS QUEZON CITY FIRESTONE TIRE & RUBBER CO. OF THE PHILIPPINES <NOW PHILTREAD TIRE & RUBEER CORPORATION>, Pet i t i c�r�et~, C.T.A. CASE NO. 4462 THE COMMISSIONER OF INTERNAL REVENUE, Respor.der.t. X- - - - ------X RE S 0 L UT I 0 N hearing of September 11, 1991' petitioner manifested its intention to withdraw the instant petition for review. Respondent opposed the withdrawal on the ground that this is an assessment case and even with the withdrawal of the petition, it will still have to contend with the long process of a collection case. Allowance of the withdrawal of an appeal is generally discretionary upon the court <U.S. v. Sotto, 38 Phil. 666, 667 [1918J, Section 4, Rule 50 of the Rules of Court>. This case is still in its initial stage and it appears that neither the interest of the part i es will be prejudiced nor any principle of law will be violated if the petition for review is allowed to be withdrawn at this time. 349

RESOLUTION C.T.A. CASE NO. 4462 -2 ACCORDINGLY, the petition for review is hereby allowed to be withd ra wn and should be as it is hereby considered DISMISSED in accordance with Sections 2 and 4, Rule 50 of the Rules of Court. SO ORDERED. Quezor. City, Mett~o Marlila, J�.tly 16, 1992. STELLA DADh S-FARRALES Pt~esidir�g Judge Act i r1g Ass1iate Judge ') ,.. 00