23 March 2023 – Income Tax Act, 1962
SARSTC IT 46206 (IT) [2023] ZATC JHB (21 February 2023)
Income tax: Set-off of assessed losses – whether the taxpayer may, in terms of section 20(1) of the Income Tax Act, set off (deduct) the balance of the foreign assessed loss from an aircraft partnership trade, as carried forward to the 2018 tax period, against the income received by or accrued to her in the form of recoupments arising from the deemed disposal, under section 9H of the Act, of partnership assets used in the conduct of a foreign trade.
