C o n t e n t s

E d i t o r i a l C o n d u c t Un b e c o m i n g

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r t i c l e s & N o t e s P a r t i c i p a t i o n R i g h t s A r e C o u n t e d , N o t V a l u e d .................................... 4 C a s e L a w P e r i o d o f L i m i t a t i o n s F o r T h e I s s ua n c e O f A s s e s s m e n t s – A p l i c a t i o n F o r R e d u c e d A s s e s s m e n t M a d e M o r e T h a n T h r e e Y e a r s A f t e r T h e D a t e O f T h e O r i g i n a l A s s e s s m e n t – W h e t h e r L i m i t a t i o n N o t A p l i c a b l e T o T h e E x t e n t N e c e s s a r y T o G i v e E f f e c t T o T h e R e s o l u t i o n O f A D i s p u t e E m b o d i e d I n A n O r d e r O f C o u r t .................................... 9

Volume 73 Nos 1 & 2 January-February 2024 www.taxpayer.co.za Managing Editor T S EMSLIE SC, BA LLB B Com (Hons) (Taxation) MBA Advocate of the High Court of South Africa Editors The Hon Mr Justice D M DAVIS B Com LLB M Phil LLD (honoris causa) P J DACHS BA LLB LLM PG Dip Tax Law Attorney of the High Court of South Africa C A EMSLIE BA LLB LLM (Taxation) Advocate of the High Court of South Africa E J MAZANSKY B Com B Acc H Dip Tax Law CA(SA)

W h e t h e r C e l l s U s e d T o T r e a t A n d S t o r e W a s t e W e r e P l a n t – W h e t h e r T h e P r o c e s s O f D e c o m p o s i t i o n A n d B i o d e g r a d a t i o n O f W a s t e W a s S i m i l a r T o A P r o c e s s O f M a n u f a c t u r e – U n d e r s t a t e m e n t P e n a l t y – SARS H a d F a i l e d T o P r ov e P r e j u d i c e .................................... 29