G.R. No. L-68118 - Obillos, Jr. vs. Commissioner of Internal Revenue

Obillos, Jr. vs. Commissioner of Internal Revenue

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Title Supreme Court: Obillos, Jr. vs. Commissioner of Internal Revenue

Case: G.R. No. L-68118

Decision Date: Oct 29, 1985

Jose Obillos, Sr. transferred land rights to his children, who resold the lots for profit. The Supreme Court ruled they were co-owners, not partners, exempting them from corporate income tax and penalties.

partnership

land

cancellation

Very Short 7 min

END