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Income tax case no 11362

Thursday, 05 May 2005   (0 Comments)
Posted by: TaxFind™
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Income tax case no 11362
Before the honourable A R Erasmus: President
Mr C A Sharwood: Accountant member
Mr F H Fereira: Commercial member

Mini Summary

The appellant had made an investment in a certain operation, but sustained two losses.He attempted to claim the losses as deductions under section 11 of the Income Tax Act 58 of 1962.The Commissioner refused to allow the deductions, leading to the present appeal.

Held that the appellant bore the onus of proving that the Commissioner's decision was wrong.

The court found that the losses sustained by the appellant were not connected to his acquisition of income, and the appeal had to fail.

To view full decision click here



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