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The four siblings - Jose, Sarah, Romeo, and Remedios Obillos - were given two parcels of land by their father to build homes. After one year, when construction costs were too high, they sold the land and divided the profits. The Commissioner assessed them corporate income tax on the profits as well as dividend taxes, treating them as an unregistered partnership. However, the court ruled they should not be considered a partnership based on the isolated land transaction. Their original purpose was to divide t

Author

Rafael M. Mindanao

Language

EN