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Acoje Mining Company, Inc. vs. Commissioner Of Internal Revenue, Et Al.

ACOJE MINING COMPANY, INC., petitioner, vs. THE COMMISSIONER OF INTERNAL REVENUE and THE COURT OF TAX APPEALS, respondents.

G.R. No. L-19378 | 1968-03-27

D E C I S I O N 


CASTRO, J.: 

Section 51 of the National Internal Revenue Code, as originally enacted, 1 provided: 

"SEC. 51. Assessment and payment of income tax. - (a) Assessment of tax. - All assessments shall be made by the Collector of Internal Revenue and all persons and corporations subject to tax shall be notified of the amount for which they are respectively liable on or before the first day of May of each successive year. 

"b) Time of payment. - The total amount of tax imposed by this Title shall be paid on or before the fifteenth day of May following the close of the calendar year, by the person subject to tax,...