Tens of millions of rands of lottery funds intended for good causes are moving through the hands of 'Lottopreneurs' who have cashed in on a change in the law.
In a significant judgment on taxation law, the Supreme Court on Thursday held that the amendment brought to Section 153C of the Income Tax Act 1961 by the Finance Act 2015 will retrospectively apply.
Justice Gita Mittal said that even if parties are not able to resolve disputes through mediation and continue with litigation, the tension in the courtroom thereafter was visibly reduced.