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Commissioner of Internal Revenue vs. William J. Suter

COMMISSIONER OF INTERNAL REVENUE, petitioner, vs. WILLIAM J. SUTER and THE COURT OF TAX APPEALS, respondents.

G.R. No. L-25532 | 1969-02-28

D E C I S I O N 
 
REYES, J.B.L., J.: 
 
A limited partnership, named "William J. Suter 'Marcoin' Co., Ltd.", was formed on 30 September 1947 by herein respondent William J. Suter, as the general partner, and Julia Spirig and Gustav Carlson, as the limited partners. The partners contributed, respectively, P20,000.00, P18,000.00 and P2,000.00 to the partnership. On 1 October 1947, the limited partnership was registered with the Securities and Exchange Commission. The firm engaged, among other activities, in the importation, marketing, distribution and operation of automatic phonographs, radios, television...