South Africa Case Law

Anglovaal Mining Ltd v Commissioner for the South African Revenue Services (411/08)

Anglovaal Mining Ltd v Commissioner for the South African Revenue Services (411/08) [2009] ZASCA 109; 2010 (2) SA 299 (SCA); [2010] 1 All SA 187 (SCA); 71 SATC 293 (22 September 2009)

Court

Supreme Court of Appeal

Case number

411/08

Judges

Streicher, Mthiyane, Hurt, Leach, Bosielo

The Supreme Court of Appeal held that Anglovaal’s NBL shares were trading stock, not capital, and allowed deduction of the 1999 loss under the Income Tax Act.

• Income Tax Act
• Trading Stock Vs Capital Asset
• Deductibility Of Losses
• Assessment Years
• Onus Of Proof
• Income-tax