South Africa Case Law

Omnia Fertilizer Ltd v Commissioner for the South African Revenue Service (103/2002)

Omnia Fertilizer Ltd v Commissioner for the South African Revenue Service (103/2002) [2003] ZASCA 10; 2003 (4) SA 513 (SCA); 65 SATC 159 (13 March 2003)

Court

Supreme Court of Appeal

Case number

103/2002

Judges

Howie, Schutz, Zulman, Navsa, Heher

The court held that writing back unclaimed creditor amounts to income was a recoupment under s 8(4)(a) of the Income Tax Act, even though the debts had not prescribed.

• Income Tax Act
• Recoupment
• Deductible Expenditure
• Gross Income
• Accounting Entries
• Tax-law