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Commissioner Of Internal Revenue, Et Al. vs. Philippine Ace Lines, Inc.

COMMISSIONER OF INTERNAL REVENUE and COMMISSIONER OF CUSTOMS, petitioners-appellants, vs. PHILIPPINE ACE LINES, INC., respondent-appellee.

G.R. Nos. L-20960-61 | 1968-10-31

D E C I S I O N 


ANGELES, J.: 

On appeal by the Government from the decision - rendered jointly in Tax Cases Nos. 964 & 984 - of the Court of Tax Appeals, reversing the rulings of the Commissioner of Internal Revenue holding the Philippine Ace Lines, Inc. liable to pay the aggregate amount of P1,407,724.57 as compensating taxes on four (4) ocean-going cargo vessels acquired by said company from the Reparation Commission of the Philippines, and of the Commissioner of Customs to place the four vessels under customs custody until the aforementioned amount claimed by the Government was first paid. 

The antecedent facts of the...