Cir v peoples stores

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August undefined, 2024

WebCohen v CIR 1946 AD 174, 13 SATC 362. CIR v Epstein 1954 (3) SA 689 (A), 19 SATC 221. CIR v Kuttel 1992 (3) SA 242 (A), 54 SATC 298. Lever Bros 14 SATC 1. Rhodesia … WebCIR v People Stores as amended by the Income Tax Act. Taxpayer sold clothing on account; Outstanding amounts owing to the taxpayer were included in gross income because the taxpayer was entitled to them (if bad or doubtful, claim a deduction) The full amount is included in gross income, no discounting to present value allowed; MP …

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http://www.saflii.org/za/cases/ZATC/2007/1.pdf WebCIR v People Stores as amended by the Income Tax Act. Taxpayer sold clothing on account; Outstanding amounts owing to the taxpayer were … slow cooker brisket with chili sauce

30 Gross Income Notes - Gross Income Definition: In the case

WebTaxation Case Law summaries (6.3) Expenditure and losses Joffe & Co (Pty) Ltd v CIR Expenditure: Voluntary outgoing/willingly incurred Loss: Involuntary outgoing/unwillingly incurred (6.4) Actually incurred Nasionale Pers Bpk v KBI; Edgars Stores Ltd v CIR; and CIR v Golden Dumps (Pty) Ltd Provisions are uncertain, expected, contingent expenses … WebFeb 22, 1990 · South Africa: Supreme Court of Appeal. 1. HEFER JA: This is an appeal in terms of sec 86 A (2) (b) of the Income Tax Act 58 of 1962, as amended, ("the Act") … PEOPLE'S STORES (WALVIS BAY) (PTY) LIMITED RESPONDENT CORAM : … WebIn People’s Stores it was held that in cases in which the right to a future payment had vested in, and therefore accrued, to the taxpayer, the accrued amount for the purposes of the taxpayer’s gross income was the present value of the future payment to which it was . 4 entitled.3 The finding in ... slow cooker broccoli

Commissioner for Inland Revenue v People

Cir v peoples stores

Commissioner for inland revenue v peoples stores - Course Hero

Web3.1 cir v peoples stores (walvis bay) (pty) ltd, 1990 (2) sa 353 (a) 24 chapter 4: specific scenarios and reported judgments 4.1 on behalf of someone else 26 ... 8 cir v golden … WebCIR v Witwatersrand Association of Racing Clubs 1960 (3) SA 291 (A), 23 SATC 380 c. CIR v People’s Stores (Walvis Bay) (Pty) Ltd 1990 (2) SA 353 (A), 52 SATC 19 d. Geldenhuys v CIR 1947 (3) SA 256 (‘C), 14 SATC 419 8.

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http://www.saflii.org/za/cases/ZASCA/1990/1.html WebCIR v People’s Stores (Walvis Bay) (Pty) Ltd 1990 Accrued to The taxpayer, a retailer, sold goods to its customers on a 6 month instalment credit basis. The court was called upon to decide whether amounts which would become receivable after the end of the year of assessment had in fact accrued to the taxpayer. An amount accrues in the tax year in …

WebThe case turned on the meaning of the words "accrued to or in favour of such person" in the definition of "gross income" in Section 1 of the Income Tax Act. Our courts have held that the words "accrued to" mean, "to which (any person) has become entitled". (Lategan v CIR 1926 CPD 203; CIR v People s Stores (Walvis Bay) (Pty) Ltd 1990 (2) SA 353A). WebLeading Tax Cases – Organised By Subject Matter. [7] Savage v CIR 1951 (4) SA 400 (A), 18 SATC 1, 1952 Taxpayer 15. [8] CIR v Lazarus’ Estate 1958 (1) SA 311 (A), 21 SATC …

http://www.saflii.org/za/cases/ZATC/2024/1.pdf WebCIR v Peoples Stores (Walvis Bay) (Pty)Ltd 1990 (2) SA 353 (A), 52 SATC 19. 1. Facts of Case The taxpayer was a retailer of clothing, footwear, household textiles and related …

WebCIR v People Stores (confirmed Lategan) An amount to which a person has become entitled to, even though payment may only be made in …

WebIn CIR v People’s Stores, this uncertainty appears to have been cleared where the court reiterated the Lategan-principle (see Lategan v CIR (1926) CPD 203, 2 SATC 16) and ruled that the concept ‘accrued to’ denotes that the taxpayer must be unconditionally entitled to … slow cooker broccoli and stilton soupWebExtra cases CSARS v People Stores - If there is an accrual, how must the outstanding amounts be valued for tax ... must be included in gross income CIR v People Stores as amended by the Income Tax Act - Taxpayer sold clothing on account - Outstanding amounts owing to the taxpayer were included in gross income because the taxpayer was entitled ... slow cooker broccoli casseroleWebCIR v BUTCHER BROS (PTY) LTD TOTAL AMOUNT IN CASH OR OTHERWISE Facts: The taxpayer owned the land that was leased to a cinema company for a period of 50 … slow cooker broasted new potatoes slow cooker broccoli cheddar cheese soupWebExtra cases CSARS v People Stores - If there is an accrual, how must the outstanding amounts be valued for tax ... must be included in gross income CIR v People Stores as … slow cooker brownie puddingWebIn CIR v Peoples Stores, 2 t he taxpayer sold goods on cash and credit. Goods that was sold on credit was only payable in the following year of assessment. because the taxpayer has a vested right in the income that is payable in the following year it has to be included in the current year of assessment. slow cooker broccoli beefWebCIR v People Stores as amended by the Income Tax Act. Taxpayer sold clothing on account; Outstanding amounts owing to the taxpayer were included in gross income … slow cooker broth recipe