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Consolidated Mines, Inc. vs. Court of Tax Appeals

CONSOLIDATED MINES, INC., petitioner, vs. COURT OF TAX APPEALS and COMMISSIONER OF INTERNAL REVENUE, respondents. / COMMISSIONER OF INTERNAL REVENUE, petitioner, vs. CONSOLIDATED MINES, INC., respondent.

G.R. Nos. L-18843 & 18844 | 1974-08-29

D E C I S I O N

MAKALINTAL, J:

These are appeals from the amended decision of the Court of Tax Appeals dated August 7, 1961, in CTA Cases No. 565 and 578, both entitled "Consolidated Mines, Inc. vs. Commissioner of Internal Revenue," ordering the Consolidated Mines, Inc., hereinafter referred to as the Company, to pay the Commissioner of Internal Revenue the amounts of P79,812.93, P51,528.24 and P71,392.82 as deficiency income taxes for the years 1953, 1954 and 1956, respectively, or the total sum of P202,733.99, plus 5% surcharge and 1% monthly interest from the date of finality of the decision.

The Company, a domestic corporation...