ASIA-PACIFIC
REGION
Commissioner of Internal Revenue v. Court of Appeals, Court of Tax Appeals and Young Men's Christian Association of the Philippines, G.R. No. 124043, 16 October 1998
The
Court of Tax Appeals has held that the YMCA is liable to income tax on the rent
received from leasing part of its premises to small retail traders on the basis
that there is no reason to construe the exemption from income tax granted to
certain nonprofit organizations, including the YMCA, in Section 30 National
Internal Revenue Code as extending to any real property owned by such organizations, whether used for profit or not.