Would the bir be correct if it determines that nancy earned

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Reference no: EM133909500

Problem

In 2019, Benjie sent his sister Nancy $1,000 via a telegraphic transfer through the BPI. The bank's remittance clerk made a mistake and credited Nancy with $1,000,000 which she promptly withdrew. The bank demanded the return of the mistakenly credited excess, but Nancy refused. Get the instant assignment help. The BIR entered the picture and investigated Nancy. Would the BIR be correct if it determines that Nancy earned taxable income under these facts?

Reference no: EM133909500

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