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Good Day Trading Corporation Vs. Board Of Tax Appeals 095 Phil 569

GOOD DAY TRADING CORPORATION, petitioner, vs. BOARD OF TAX APPEALS, respondent.

G.R. No. L-6574 | 1954-07-31

D E C I S I O N


MONTEMAYOR, J.:

The facts in this case are not disputed. The petitioner Good Day Trading Corporation imported 238 cases of Chesterfield cigarettes on February 18, 1952. The corresponding surety bond was filed in its favor to secure the payment of the sum of P52,360, the amount of specific taxes due on the cigarette importation, and pursuant to existing law, the shipment was stored in a bonded warehouse under the custody of the Bureau of Customs. On September 23, 1952, while the cigarettes were still in storage, petitioner sold them to one Buenaventura Isleta for a total sum of P32,000, exclusive of specific taxes, the...