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Income Tax Act, 1962 (Act 58 of 1962)

Chapter III: General Provisions

Part IA: Advance Tax Rulings

76L. Impact of subsequent changes in tax law (Repealed)

 

 

[Repealed by the Tax Administration Act, 2011 (Act No. 28 of 2011)].

 

1) Notwithstanding any provision to the contrary contained in this Act, an advance tax ruling ceases to be effective upon the occurrence of any of the following circumstances—
a) if the provision of the Act that was the subject of the advance tax ruling is repealed or amended, the advance tax ruling will cease to be effective from the date that such repeal or amendment is effective;
b) if a court overturns or modifies an interpretation of the Act on which the advance tax ruling is based, the advance tax ruling will cease to be effective from the date of judgment unless—
i) the decision is under appeal;
ii) the decision is fact-specific and the general interpretation upon which the advance tax ruling was based was unaffected; or
iii) the reference to the interpretation upon which the advance tax ruling was based was obiter dicta.

 

2) An advance tax ruling ceases to be effective immediately upon the occurrence of the circumstances described in subsection (1) of this section, whether or not the Commissioner publishes a notice of withdrawal or modification.