MANAGEMENT

Detailed explanation-1: -Thus, in Commissioner of Internal Revenue v. Algue, Inc., this Court held: Taxes are the lifeblood of the government and so should be collected without unnecessary hindrance. On the other hand, such collection should be made in accordance with law as any arbitrariness will negate the very reason for government itself.

Detailed explanation-2: -The lifeblood theory constitutes the theory of taxation, which provides that the existence of government is a necessity; that government cannot continue without means to pay its expenses; and that for these means it has a right to compel its citizens and property within its limits to contribute.

Detailed explanation-3: -Taxes being the lifeblood of the government, should be adequate in order to finance the general requirements of growth and development of our country.