South Africa Case Law

New Adventure Shelf 122 (Pty) Ltd v Commissioner of the South African Revenue Services (310/2016)

New Adventure Shelf 122 (Pty) Ltd v Commissioner of the South African Revenue Services (310/2016) [2017] ZASCA 29; [2017] 2 All SA 784 (SCA); 2017 (5) SA 94 (SCA); 79 SATC 233 (28 March 2017)

Court

Supreme Court of Appeal

Case number

310/2016

Judges

Shongwe, Leach, Wallis, Mocumie, Nicholls

The SCA held that a later cancellation of a sale did not justify reopening a final 2007 capital gains tax assessment; any loss arose in the cancellation year.

• Capital Gains Tax
• Tax Assessment Finality
• Cancellation Of Sale
• Capital Loss
• Eighth Schedule Interpretation
• Capital-gains-tax