Taxation — General business tax — School District of Philadelphia — Petitioner engaged in various enterprises — Income from stock investments — Words and Phrases — "Business" — "Receipts" — Act of May 23, 1949, P. L. 1669, as amended.
On appeal from an assessment by the School District of Philadelphia for general business taxes under the Act of May 23, 1949, P. L. 1669, as amended, in which it appeared that petitioner operated a department store, four hotels, and had various other real estate holdings, from which it received a substantial gross income; that petitioner also owned securities, and that dividends on these securities, and profits from sales thereof, totaled a substantial sum; and that the court below, holding that petitioner was engaged in "business" and that the gross income from its investments constituted "receipts" within the meaning of the Act, concluded that petitioner's income from its investments was subject to the general business tax; it was Held that the judgment of the court below should be affirmed.
Mr. Justice BOK took no part in the consideration or decision of this case.
OPINION PER CURIAM, November 9, 1959:
The order of the Superior Court is affirmed on the opinion of President Judge (now Justice) BOK, of the Court of Common Pleas No. 6 of Philadelphia County, reported at 16 Pa. D. C.2d 248.
Mr. Justice BOK took no part in the consideration or decision of this case.