ABC Mining (Pty) Ltd v Commissioner for the South African Revenue Service (IT 24606)
ABC Mining (Pty) Ltd v Commissioner for the South African Revenue Service (IT 24606) [2021] ZATC 12 (25 February 2021)
The Tax Court held that the purchase of prospecting rights was not deductible under section 15(b), but reduced the understatement penalty to 10% and remitted interest.
- Income Tax Act
- Prospecting Rights Deduction
- Understatement Penalty
- Section 15b Interpretation
- Capital Expenditure
- Section 89quat Interest