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Northern Lines, Inc vs Court of Tax Appeals etal.

NORTHERN LINES, INC., petitioner, vs. THE HON. COURT OF TAX APPEALS, COMMISSIONER OF CUSTOMS and COMMISSIONER OF INTERNAL REVENUE, respondents.

G.R. No. L-41376-77 | 1988-06-29

D E C I S I O N


CORTES, J.:

The issue before the Court in this petition for review of a resolution of the Court of Tax Appeals is whether or not petitioner Northern Lines, Inc. is entitled to an exemption from the payment of compensating tax on two (2) vessels it had procured under the Reparations Law.

The facts of the case are not disputed.

Petitioner Northern Lines, Inc. is a domestic corporation engaged in the shipping business. In 1960, pursuant to Contracts of Conditional Purchase and Sale, it procured from the Reparations Commission two (2) vessels, the "Don Salvador," formerly named "Magsaysay," and the "Don Amando," formerly...