Cir v peoples stores

http://www.saflii.org/za/cases/ZATC/2007/1.pdf WebCIR v BUTCHER BROS (PTY) LTD TOTAL AMOUNT IN CASH OR OTHERWISE Facts: The taxpayer owned the land that was leased to a cinema company for a period of 50 …

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Web7. The tax principle that once an amount has been beneficially received by or accrued to a taxpayer, the taxpayer is taxed on such amount even though he may have an obligation … WebThe case turned on the meaning of the words "accrued to or in favour of such person" in the definition of "gross income" in Section 1 of the Income Tax Act. Our courts have held that the words "accrued to" mean, "to which (any person) has become entitled". (Lategan v CIR 1926 CPD 203; CIR v People s Stores (Walvis Bay) (Pty) Ltd 1990 (2) SA 353A). ordering cuban cigars https://ronrosenrealtor.com

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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 … 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 … WebFeb 22, 1990 · South Africa: Supreme Court of Appeal. 1. HEFER JA: This is an appeal in terms of sec 86 A (2) (b) of the Income Tax Act 58 of 1962, as amended, ("the Act") … PEOPLE'S STORES (WALVIS BAY) (PTY) LIMITED RESPONDENT CORAM : … irene tompkins obituary

IN THE TAX COURT OF SOUTH AFRICA (CAPE TOWN)

Category:Cases - Gross Income - Complete - CIR v BUTCHER BROS (PTY

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Cir v peoples stores

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WebUnformatted 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 … 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 ...

Cir v peoples stores

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Web1. total amount. 2. in cash or otherwise. 3. received by or accrued to. - from anywhere, in the case of a person who is a resident. - from a source in SA in the case or of a nonresident person. 4. other than receipts or accruals of a capital nature. 1. total amount. - LATEGAN v CIR: the term 'amount' is not only money, but also every form of ... WebCIR 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 …

Webthe cases of CIR v Ochberg13 and Mooi v SIR,14 are then contrasted with an opposing meaning attributed to it in later case law. The opinions of two Commissions of Inquiry,15 … 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 …

WebExtra cases CSARS v People Stores - If there is an accrual, how must the outstanding amounts be valued for tax ... must be included in gross income CIR v People Stores as … 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 …

WebIn CIR v People’s Stores, this uncertainty appears to have been cleared where the court reiterated the Lategan-principle (see Lategan v CIR (1926) CPD 203, 2 SATC 16) and ruled that the concept ‘accrued to’ denotes that the taxpayer must be unconditionally entitled to …

WebLeading 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 … ordering cuban cigars in bulkWebCIR v People Stores as amended by the Income Tax Act. Taxpayer sold clothing on account; Outstanding amounts owing to the taxpayer were … irene tobymac lyricsWebCIR 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 … ordering cuban cigars online legalWebCIR 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 … ordering cupcakes from walmartWeb[26] In CIR v Peoples’ Stores 1990 ( 2) SA 353 (A) at 365 A - B it was held that what is required for an accrual in terms of the definition of “gross income”, is that the person … irene todd columbus ohioWebCIR 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 … ordering ct scan with or without contrasthttp://www.saflii.org/za/cases/ZATC/2024/1.pdf irene tremblay