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Fisher vs. Trinidad 043 Phil 973

FREDERICK C. FISHER, PLAINTIFF-APPELLLANT, VS. WENCESLAO TRINIDAD, COLLECTOR OF INTERNAL REVENUE, DEFENDANT-APPELLEE.

G.R. No. 17518 | 1922-10-30

D E C I S I O N

JOHNSON, J.:

The only question presented by this appeal is: Are the "stock dividends" in the present case "income" and taxable as such under the provisions of section 25 of Act No. 2833? While the appellant presents other important questions, under the view which we have taken of the facts and the law applicable to the present case, we deem it unnecessary to discuss them now.

The defendant demurred to the petition in the lower court. The facts are therefore admitted. They are simple and may be stated as follows:

That during the year 1919 the Philippine American Drug Company was a corporation duly organized...