Cir v peoples stores
http://www.saflii.org/za/cases/ZATC/2024/1.pdf
Cir v peoples stores
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WebFeb 12, 2024 · 8 CIR v Del fos 19 33, (A D) 242, 6 SATC 92 at 1 11 and Hersov’s Estate v CIR, 1957 (1) SA 471 (A), ... 1 Shortly after the landmark ruling in People’s Stores, the legislature intervened and . WebCIR v People Stores as amended by the Income Tax Act. Taxpayer sold clothing on account; Outstanding amounts owing to the taxpayer were included in gross income because the taxpayer was entitled to them (if bad or doubtful, claim a deduction) The full amount is included in gross income, no discounting to present value allowed; MP …
WebCIR v People’s Stores (Walvis Bay) (Pty) Ltd (1990 A) The taxpayer was a retailer of clothing, footwear, household textiles and related goods and it sold its goods to its … WebCohen v CIR 1946 AD 174, 13 SATC 362. CIR v Epstein 1954 (3) SA 689 (A), 19 SATC 221. CIR v Kuttel 1992 (3) SA 242 (A), 54 SATC 298. Lever Bros 14 SATC 1. Rhodesia …
WebIn People’s Stores it was held that in cases in which the right to a future payment had vested in, and therefore accrued, to the taxpayer, the accrued amount for the purposes of the taxpayer’s gross income was the present value of the future payment to which it was . 4 entitled.3 The finding in ... Webcase in par 11 (section 22(3)(a)(ii), section 22(8)(b)(v) & par 12(2)(c) and par 12(3) of the Eighth Schedule). It is now specifically provided for that, where a capital asset becomes trading stock (or vice versa), an adjustment needs to be made in the sense that there will be a deemed disposal of the capital asset (or the trading stock, if that is the case) at its …
WebCIR v People’s Stores (Walvis Bay) (Pty) Ltd 1990 Accrued to The taxpayer, a retailer, sold goods to its customers on a 6 month instalment credit basis. The court was called upon to decide whether amounts which would become receivable after the end of the year of assessment had in fact accrued to the taxpayer. An amount accrues in the tax year in …
Webcommissioner for inland revenue v people‟s stores (walvis bay) (pty) ltd 52 SATC 9 (A) - 1989 Importance Classification: Very important as the Appellate Division in this case … highway safety design and operations guideWebLeading Tax Cases – Organised By Subject Matter. [7] Savage v CIR 1951 (4) SA 400 (A), 18 SATC 1, 1952 Taxpayer 15. [8] CIR v Lazarus’ Estate 1958 (1) SA 311 (A), 21 SATC … highway safety developments ltdWebUnformatted text preview: Principles from case law Principles from the following tax cases were covered in Tax I Relevant to Definition of gross income Definition of gross income Definition of gross income Definition of gross income Words or phrase Considered Resident Amount 'from a source within ... the Republic' accrued to Name of the court … small texas sheet cake recipeWebJul 14, 2024 · Judgment was delivered in the tax court on 30 May 2024 in the matter of M v Commissioner for the South African Revenue Service (case number 14005, as yet … small texas ranches for sale by ownerWebCIR v Peoples Stores (Walvis Bay) (Pty)Ltd 1990 (2) SA 353 (A), 52 SATC 19. 1. Facts of Case The taxpayer was a retailer of clothing, footwear, household textiles and related … small texas sheet cakeWebCIR v People Stores as amended by the Income Tax Act. Taxpayer sold clothing on account; Outstanding amounts owing to the taxpayer were included in gross income … small texas state flagWebIn People’s Stores it was held that in cases in which the right to a future payment had vested in, and therefore accrued, to the taxpayer, the accrued amount for the purposes … small texas tech flag