South Africa Case Law

Commissioner for the South African Revenue Services v Smith (563/2001)

Commissioner for the South African Revenue Services v Smith (563/2001) [2002] ZASCA 126; 2002 (6) SA 621 (SCA); 65 SATC 6 (26 September 2002)

Court

Supreme Court of Appeal

Case number

563/2001

Judges

Heher, Hefer, Schutz, Scott, Brand

The Supreme Court of Appeal held that section 26(1) requires a genuine intention to farm profitably, but not a separate reasonable prospect of profit.

• Income Tax Act Section 26
• Farming Operations
• Genuine Intention To Profit
• Objective Vs Subjective Intent
• Income-tax
• Farming-operations