7 November 2022 – Income Tax Act, 1962
CSARS v The Thistle Trust (516/2021) [2022] ZASCA 153 (7 November 2022)
Revenue – capital gains tax – Income Tax Act 58 of 1962 – capital gains determined in respect of trusts’ disposal of assets vested in a resident trust beneficiary, who in turn made a distribution to its beneficiaries in the same year of assessment – whether section 25B or paragraph 80(2) of Schedule 8 is applicable – whether the appellant was correct in imposing an understatement penalty of 50% and interest.
