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Ipekdjian Merchandising Co., Inc. Vs. Court Of Tax Appeals, Et Al. 118 Phi. 915

IPEKDJIAN MERCHANDISING CO., INC., petitioner, vs. COURT OF TAX APPEALS and COMMISSIONER OF INTERNAL REVENUE, respondents.

G.R. No. L-15430 | 1963-09-30

D E C I S I O N


MAKALINTAL, J.:

Petition to review the resolution of the Court of Tax Appeals dismissing the petition for review in C.T.A. Case No. 374.
On January 11, 1951 respondent Commissioner of Internal Revenue (then Collector of Internal Revenue) assessed and demanded from Ipekdjian Merchandising Co., Inc., the amount of P97,502.25, as compensating tax and surcharge on gold chains imported by it, which were later melted and converted into gold bullion and sold as such, plus the amount of P200.00 as compromise penalty, for violation of Sec. 190 of the Tax Code. In accordance with the provisions of Executive Order No. 401-A, series...