South Africa Case Law

Ackermans Ltd v Commissioner for South African Revenue Service, Pep Store (SA) Ltd v Commissioner for South African Revenue Service (441/09)

Ackermans Ltd v Commissioner for South African Revenue Service, Pep Store (SA) Ltd v Commissioner for South African Revenue Service (441/09) [2010] ZASCA 131; 2011 (1) SA 1 (SCA) ; [2011] 2 All SA 125 (SCA); 73 SATC 1 (1 October 2010)

Court

Supreme Court of Appeal

Case number

441/09

Judges

NAVSA, CLOETE, CACHALIA, MHLANTLA, BOSIELO

The Supreme Court of Appeal held that Ackermans did not incur deductible expenditure when a purchaser assumed contingent liabilities under a business sale.

• Income Tax Act 58 Of 1962
• Deductibility Of Expenditure
• Contingent Liabilities
• Sale Of Business
• Revenue Vs Capital Expenditure
• Income-tax-act-58-of-1962