Internal Revenue Taxes — Income

January 29, 1981 BIR RULING NO. 024-81 27-0 000-00 024-81 Acacia Mutual Aid Society, Inc. 1440 San Marcelino Street Metro Manila Attention: Mr . Jose T . Manzanilla Secretary Gentlemen : This refers to your letter dated April 11, 1980 requesting reconsideration of the ruling of this Office of October 5, 1978 stating that income derived from any of your properties, real or personal, or any activity conducted for profit shall be subject to internal revenue taxes regardless of the disposition made of such income. cdti In reply, I have the honor to inform you that your request cannot be granted for lack of legal basis. Although you are one of the tax-exempt organization listed in Section 27 of the Tax Code, said income is, nevertheless, subject to internal revenue taxes, pursuant to an amendment introduced in said provision by P.D. No. 1457. Very truly yours, RUBEN B. ANCHETA Acting Commissioner