ABC (Pty) Limited v Commissioner for the South African Revenue Services (13356)
ABC (Pty) Limited v Commissioner for the South African Revenue Services (13356) [2013] ZATC 5 (2 December 2013)
The Tax Court held that the 'further costs' category of R64,346,528 was properly raised as an alternative issue before the SCA and was not abandoned. The SCA judgment adopted a broad approach to the deductibility of costs under section 11(bA) of the Income Tax Act, encompassing all related finance charges closely connected to the furtherance of ABC's prison project. The absence of an express reference to 'further costs' in the SCA judgment did not preclude their deductibility, as the principles articulated by the SCA extended to a wide range of fees and costs. The Commissioner was limited to…
Source excerpt
- Income Tax Act Section 11ba
- Deductibility Of Expenditure
- Interpretation Of Judgments
- Timing Of Deductions