FACTS: Petitioner is engaged in both taxable and non-taxable operations. The income derived from the operations of the hospital and the nursing school are exempt from income tax while the rest of petitioner’s income are subject thereto. Its taxable or non-operating income consists of rentals, interests and dividends received from its properties and investments.… Read More Hospital De San Juan De Dios, Inc. vs. CIR G.R. No. L-31305 May 10, 1990 Taxable Income

FACTS: British overseas airways corp. (BOAC) a wholly owned British Corporation, is engaged in international airlines business. From 1959to 1972, it has no loading rights for traffic purposes in the Philippines but maintained a general sales agent in the Philippines which was responsible for selling, BOAC  tickets covering passengers and cargoes the CIR assessed deficiency… Read More Commissioner vs. BOAC G.R. No. L-65773-74 April 30, 1987 149 SCRA 395 Income Tax

FACTS: Vicente Madrigal and Susana Paterno were married with Conjugal Partnership  as their property relations.Vicente filed his 1914 income tax return but later claimed a refund on the contention that it was the income of the conjugal partnership. Vicente claimed that the income should be divided into two with each spouse filing a separate return.Hence,… Read More Madrigal vs. Rafferty G.R. No. L-12287 August 7, 1918 Income Tax defined, Income vs. Capital