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Commissioner of Internal Revenue vs. American Rubber Company, et al.

COMMISSIONER OF INTERNAL REVENUE, petitioner, vs. AMERICAN RUBBER COMPANY and COURT OF TAX APPEALS, respondents.

G.R. No. L-19667 | 1966-11-29

D E C I S I O N


REYES, J.B.L., J.:


These cases are brought on appeal from the Court of Tax Appeals by the State (G.R. No. L-19667) as well as by the American Rubber Company (G.R. Nos. L-19801, 19802, 19803).

The factual background is the same in all four cases, and is not in controversy, having been stipulated between the parties.

Petitioner, American Rubber Company, a domestic corporation, from January 1, 1955 to December 31, 1958, was engaged in producing rubber from its approximate 900-hectare rubber tree plantation, which it owned and operated in Latuan, Isabela, City of Basilan. Its products, known in the market as Preserved Latex, Pale...