BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jan 20, 1969
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January 20, 1969 Atty. Francisco E. Lucas 2nd Floor, Llamas Building 1819 Taft Ave., cor. Vermont St. Ermita, Manila S i r : This refers to your letter requesting in behalf of your clients, Mr. and Mrs. Urbano Eugenio, that the capital gains realized by them from the sale of their land in Novaliches, Quezon City in the sum of P177,070.00 be exempt from the payment of income tax under Section 12 of Republic Act No. 2025. In reply thereto, I have the honor to inform you that Section 12, together with Sections 6 and 7, of Republic Act No. 2025 was vetoed. In view thereof, your request has to be, as it is hereby, denied. aisadc Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue
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