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La Compania General De Tabacos De Filipinas Vs. Collector Of Internal Revenue051 Phil 154

LA COMPANIA GENERAL DE TABACOS DE FILIPINAS, plaintiff and appellee, vs. THE COLLECTOR OF INTERNAL REVENUE, defendant-appellant.

G.R. No. 27766 | 1927-12-06

D E C I S I O N


JOHNS, J.:

Upon the stipulation of facts, the question involved on this appeal is the legal construction to be placed on section 10 of Act No. 2833, as amended by section 7 of Act No. 2926, which provides as follows:
"There shall be leveid, assessed, collected, and paid annually upon the total net income received in the preceding calendar year from all sources by every corporation, jointstock company, partnership, joint-account (cuenta en participacion), associatior., or insurance company, organized in the Philippine Islands, no matter how created or organized, but not including duly registered general co-partnerships...