South Africa Case Law

Commissioner for Inland Revenue v Ocean Manufacturing Ltd. (483/88)

Commissioner for Inland Revenue v Ocean Manufacturing Ltd. (483/88) [1990] ZASCA 66; 1990 (3) SA 610 (AD); [1990] 2 All SA 422 (A) (1 June 1990)

Court

Supreme Court of Appeal

Case number

483/88

Judges

Corbett, Botha, Smalberger, Nicholas, Smuts

The court held that a separate transfer agreement, not the broader merger arrangement, was the relevant agreement for section 103(2) and allowed the Commissioner’s appeal.

• Assessed Loss Utilisation
• Tax Avoidance
• Income Tax Act Section 103 2
• Merger Agreement
• Transfer Agreement
• Tax-avoidance