WebCourt case reference Component of definition Principle established CIR v Butcher Bros (Pty) Ltd Definition of gross income – "total amount" The word "amount" means an amount having "an ascertainable money value" and the onus is initially on the Commissioner to prove that an amount has accrued to the taxpayer. CIR v People's Stores (Walvis Bay) (Pty) Ltd … WebCIR v People’s Stores (Walvis Bay) (Pty) Ltd. 5. the court, in applying this principle , held that the right to claim payment of a debt in the future was of such a nature that a value …

People v. Cairns, 4 Mich. App. 633 Casetext Search + Citator

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 … 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. harfield dance studios

ACT : INCOME TAX ACT 58 OF 1962 SECTION : SECTIONS 1(1) …

WebCIR v People's Stores (Walvis Bay) (Pty) Ltd Definition of gross income – "total amount" & "accrued to" It was held that income can be money or "every form of property earned by the taxpayer, whether corporeal or incorporeal, which has a money value". WebAppellate Division in Commissioner for Inland Revenue v People’s Stores (Walvis Bay) (Pty) Ltd 1990 (2) SA 353 (A). The judgment in People’s Stores endorsed the so-called … Web1. total amount. 2. in cash or otherwise. 3. received by or accrued to. - from anywhere, in the case of a person who is a resident. - from a source in SA in the case or of a nonresident … harfield insurance