Jose Aznar v CTA and CIR; G.R. No. L-20569; 23 Aug 1974
FACTS:The CIR having doubts on the veracity of the reported income of the obviously wealthy deceased taxpayer, the latter’s assets and liabilities during the period of 1941 to 1951 were ascertained. The findings clearly indicated that said taxpayer did not correctly declare the income reported in his income tax returns from 1946 to 1951, as the yearly increases in his net worth were very much more than what was reported during said period. Respondent CIR issued an assessment notice which, after reinvestigation, significantly reduced the assessed deficiency income tax. ISSUE(S):Whether or not fraud with intent to evade taxes could be…