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Question 3 (Marks: 10) Pink Panther (a South African resident) is an elusive jewel thief. He stole loose diamonds to the value of R20 000
Question 3 (Marks: 10) Pink Panther (a South African resident) is an elusive jewel thief. He stole loose diamonds to the value of R20 000 000 from De Beers. He fenced the stolen diamonds on 28 February 2022 on the black market and received bitcoins on 2 March 2022 in exchange. Required: Q.3.1 (10) You have been appointed by SARS to argue whether the income generated from the sale of the stolen diamonds will constitute gross income and whether The Independent Institute of Education (Pty) Ltd 2021 Page 3 of 8 21 2021 Pink Panther will be taxed on the income in the 2022 tax period. Refer to the applicable definitions and include a brief description, in your own words, of applicable case law (if any)
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