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Taxation; The dictum that the power to tax involves the power
to destroy should be obviated.To regard the petitioners as having
formed a taxable unregistered partnership would result in
oppressive
________________
* SECOND DIVISION.
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
lots for residential purposes. If later on they found it not feasible
to build their residences on the lots because of the high cost of
construction, then they had no choice but to resell the same to
dissolve the coownership. The division of the profit was merely
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3/1/2017 SUPREME COURT REPORTS ANNOTATED VOLUME 139
AQUINO, J..
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440
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3/1/2017 SUPREME COURT REPORTS ANNOTATED VOLUME 139
441
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3/1/2017 SUPREME COURT REPORTS ANNOTATED VOLUME 139
442
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o0o
443
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