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Lorenzo vs. Posadas, 64 Phil. 353, June 18, 1937
Lorenzo vs. Posadas, 64 Phil. 353, June 18, 1937
Lorenzo vs. Posadas, 64 Phil. 353, June 18, 1937
354
taxes takes its being and if, upon the death of the
decedent, succession takes place and the right of the state
to tax vests instantly, the tax should be measured by the
value of the estate as it stood at the time of the decedent's
death, regardless of any subsequent contingency affecting
value or any subsequent increase or decrease in value. (61
C. J., pp.' 1692, 1693; 26 R. C. L., p. 232; Blakemore and
Bancroft, Inheritance Taxes, p. 137. See also Knowlton vs.
Moore, 178 U. S., 41; 20 Sup. Ct. Rep., 747; 44 Law. ed.,
968.)
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LAUREL, J.:
* * * * * * *
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"The lower court erred in not ordering the plaintiff to pay to the
defendant the sum of P1,191.27, representing part of the interest
at the rate of 1 per cent per month from April 10, 1924, to June
30, 1931, which the plaintiff had failed to pay on the inheritance
tax assessed by the defendant against the estate of Thomas
Hanley."
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362
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361; Twine Co. vs. Worthington, 141 U. S., 468; 12 Sup. Ct.,
55; Rice vs. U. S., 4 C. C. A., 104; 53 Fed., 910; Com. vs.
Standard Oil Co., 101 Pa. St, 150; State vs. Wheeler, 44 P.,
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VlLLA-REAL, J.:
_____________
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