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Visayas Electrical Company, Inc. vs. CIR

VISAYAN ELECTRIC COMPANY, INC., petitioner, vs. COMMISSIONER, OF INTERNAL REVENUE, respondent.

G.R. No. L-21832 | 1971-05-29

D E C I S I O N


DIZON, J:

This is an appeal from a decision of the Court of Tax Appeals in C.T.A. Case No. 1105 sentencing petitioner to pay respondent Commissioner of Internal Revenue or his authorized representative the sum of P78,670.55 as deficiency franchise tax and surcharge.

The material facts are not disputed, the case having been submitted for decision on the pleadings.

According to the record, petitioner, a holder of a legislative franchise (Act No. 2701) authorizing it to operate and maintain an electric light, heat and power system in the City of Dumaguete, Oriental Negros, realized more than two million pesos as gross...