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Commissioner of Internal Revenue vs. Court of Appeals and YMCA 298 SCRA 83

COMMISSIONER OF INTERNAL REVENUE, petitioner, vs. COURT OF APPEALS, COURT OF TAX APPEALS and YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE PHILIPPINES, INC., respondents.

G.R. No. 124043 | 1998-10-14

D E C I S I O N
 
PANGANIBAN, J.:

Is the income derived from rentals of real property owned by the Young Men's Christian Association of the Philippines, Inc. (YMCA) - established as "a welfare, educational and charitable non-profit corporation" -- subject to income tax under the National Internal Revenue Code (NIRC) and the Constitution? 
 
The Case
 
This is the main question raised before us in this petition for review on certiorari challenging two Resolutions issued by the Court of Appeals1 on September 28, 1995and February 29, 19963  in CA-GR SP No. 32007. Both Resolutions affirmed the...