G.R. No. L-26145 - Manila Wine Merchants, Inc. vs. Commissioner of Internal Revenue

Manila Wine Merchants, Inc. vs. Commissioner of Internal Revenue

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Title Supreme Court: Manila Wine Merchants, Inc. vs. Commissioner of Internal Revenue

Case: G.R. No. L-26145

Decision Date: Feb 20, 1984

Manila Wine Merchants accumulated profits beyond business needs, investing in unrelated entities like U.S. Treasury bonds. The 25% surtax was upheld as the accumulation was deemed unreasonable, intended to avoid shareholder taxes.

manila wine merchants

commissioner of internal revenue

accumulated earnings

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