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Manila Wine Merchants, Inc. vs. Commissioner of Internal Revenue

THE MANILA WINE MERCHANTS, INC., petitioner, vs. THE COMMISSIONER OF INTERNAL REVENUE, respondent.

G.R. No. L-26145 | 1984-02-20

D E C I S I O N


GUERRERO, J.:

In this Petition for Review on Certiorari, petitioner, the Manila Wine Merchants, Inc., disputes the decision of the Court of Tax Appeals ordering it (petitioner) to pay respondent, the Commissioner of Internal Revenue, the amount of P86,804.38 as 25% surtax plus interest which represents the additional tax due petitioner for improperly accumulating profits or surplus in the taxable year 1957 under Sec. 25 of the National Internal Revenue Code.

The Court of Tax Appeals made the following finding of facts, to wit:

"Petitioner, a domestic corporation organized in 1937, is principally engaged in the importation...