SUPREMECOURTREPORTSANNOTATEDVOLUME139
436
SECOND DIVISION.
437
437
taxation and confirm the dictum that the power to tax involves
the power to destroy. That eventuality should be obviated.
Same Partnership Coownership Where the father sold his
rights over two parcels of land to his four children so they can
build their residence, but the latter after one (1) year sold them
and paid the capital gains, they should not be treated to have
formed an unregistered partnership and taxed corporate income
tax on the sale and dividend income tax on their shares of the
profit's from the sale.Their original purpose was to divide the
http://www.central.com.ph/sfsreader/session/000001516dab382a1ff24915003600fb002c009e/t/?o=False
1/8
12/4/2015
SUPREMECOURTREPORTSANNOTATEDVOLUME139
438
2/8
12/4/2015
SUPREMECOURTREPORTSANNOTATEDVOLUME139
439
3/8
12/4/2015
SUPREMECOURTREPORTSANNOTATEDVOLUME139
440
4/8
12/4/2015
SUPREMECOURTREPORTSANNOTATEDVOLUME139
http://www.central.com.ph/sfsreader/session/000001516dab382a1ff24915003600fb002c009e/t/?o=False
5/8
12/4/2015
SUPREMECOURTREPORTSANNOTATEDVOLUME139
441
6/8
12/4/2015
SUPREMECOURTREPORTSANNOTATEDVOLUME139
442
442
http://www.central.com.ph/sfsreader/session/000001516dab382a1ff24915003600fb002c009e/t/?o=False
7/8
12/4/2015
SUPREMECOURTREPORTSANNOTATEDVOLUME139
Copyright2015CentralBookSupply,Inc.Allrightsreserved.
http://www.central.com.ph/sfsreader/session/000001516dab382a1ff24915003600fb002c009e/t/?o=False
8/8