Case digest basilan estate vs cir

Case Digest Basilan Estate vs. Cir Essay

Under the same provision, there is only one exception to this rule, that is, when disclosure is allowed upon the written permission of the depositor.

At the time of the investigation, said five years had lapsed. L, July 7, Facts: This shows all the more the unreasonable accumulation. On December 20,Basilan Estates, Inc. Surplus, needed for paying expenses during the year which isgreater than surplus.

Provided, That this limitation shall not apply to cases already investigated prior to the approval of this Code.

Basilan Estates vs Cir (1967)

Petition granted, judgment reversed and set aside. Coco industry, was assessed improperly accumulated earnings tax by: It did not state a demand or period for payment.

The most crucial point to be remembered is that Philtrust had absolutely no legal relationship to the deceased, or to her Estate. Absent this assessment, no proceeding could be initiated in court for collection of said tax; therefore, it could not have become final, executory and incontestable.

This shows all the more the unreasonable accumulation. Petitioner Estate denies that Philtrust had any legal personality to represent the decedent after her death. Withdrawal by shareholders of large sums of money alleged to be used for thebusiness, but the unspent balance was retained by the said shareholders.

While the subject advertising expense was paid or incurred within the corresponding taxable year and was incurred in carrying on a trade or business, hence necessary, the parties views conflict as to whether or not it was ordinary.

On this ground, the petitioner may be sustained, for under Section of the Tax Code, receipts and papers supporting such expenses need be kept by the taxpayer for a period of five years from the last entry. On the right side of the notice is also stamped "Feb. Strong financial position of the petitioner as of December 31, Recovery deduction of an amount more that the invested capitalwill transgress the underlying purpose of depreciation allowance.

As correctly held by the Court of Tax Appeals, while certain expenses of the corporation were credited against these amounts, the unspent balance was retained by the stockholders without refunding them to petitioner at the end of each year. The CIR had, in such tax evasion cases, discretion on whether to issue an assessment, or to file a criminal case against the taxpayer, or to do both.

The margin fee was imposed by the State in the exercise of its police power and not the power of taxation. Have there been unreasonably accumulated profits. The taxpayer who claims for exemption must justify his claim by the clearest grant of organic or statute law and should not be permitted to stand on vague implications.

Failure to present proof of error in the assessment will justify the judicial affirmance of said assessment. Private respondents filed immediately an urgent request for reconsideration on reinvestigation disputing the tax assessment and tax liability.

Has the Commissioner's right to collect deficiency income tax prescribed. The filing of the criminal complaint with the DOJ cannot be construed as a formal assessment. Thus, he also has legal rights and interests in the CBC account where said monies were deposited.

The exemption was by virtue of Republic Act which amended Sec.

Case Digest.doc

Petitioner Commissioner of Internal Revenue caused the investigation of the denunciation after which he found and held that no deficiency corporate income tax was due from the Meralco Securities Corporation on the dividends it received from the Manila Electric Co.

In the absence of proof of any irregularities in the performance of official duties, an assessment will not be disturbed. Provided, however, that assessments issued by the Regional Offices involving basic deficiency taxes of five hundred thousand pesos P, or less, and minor criminal violations as may be determined by rules and regulations to be promulgated by the Secretary of Finance, upon the recommendation of the Commissioner, discovered by regional and district officials, may be compromised by a regional evaluation board which shall be composed of the Regional Director as Chairman, the Assistant Regional Director, heads of the Legal, Assessment and Collection Divisions and the Revenue District Officer having jurisdiction over the taxpayer, as members; and d The power to assign or reassign internal revenue officers to establishments where articles subject to excise tax are produced or kept.

It is not only the right of a company to make such a provision, but it is its duty to its bond and stockholders, and, in the case of a public service corporation, at least, its plain duty to the public. View 12 CIR v BF Goodrich digest from BUSLAW at University of Santo Tomas. CIR vs. B.F. GOODRICH PHILS., INC.

(now SIME DARBY INTERNATIONAL TIRE CO., INC.) and THE COURT OF APPEALS G.R. No.

Basilan Estates vs Cir (1967)

si Basilan Estates, Inc vs CIR & CTA GR L; Sept 5, Bengzon, J.P. Facts: 1. Basilan Estate, Inc. a Philippine corporation engaged in coconut industry filed in its income tax returns for and paid an income tax of P8, 2.

Jan 13,  · The CIR rejected Reyes’s offer, pointing out that since the estate tax is a charge on the estate and not on the heirs, the latter’s financial incapacity is immaterial as, in fact, the gross value of the estate amounting to P32, is more than sufficient to settle the tax liability.

Case Digest.doc

si Basilan Estates, Inc vs CIR & CTA GR L; Sept 5, Bengzon, J.P. Facts: 1. Basilan Estate, Inc. a Philippine corporation engaged in coconut industry filed in its income tax returns for and paid an income tax of P8, 2. View 12 CIR v BF Goodrich digest from BUSLAW at University of Santo Tomas.

CIR vs. B.F. GOODRICH PHILS., INC. (now SIME DARBY INTERNATIONAL TIRE CO., INC.) and THE COURT OF APPEALS G.R. No. ESTATE OF GABRIEL vs CIR itself as the administrator of the estate of the deceased at least insofar as said return is concerned.” 5 Citing Basilan Estate Inc.

v. Commissioner of Internal Revenue, 6 respondent argued that case digest, Estate of Gabriel vs CIR, Estate of Gabriel vs Commissioner of Internal Revenue.

Case digest basilan estate vs cir
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