IN THE COURT OF APPEAL OF THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA In the matter of a Stated Case on question of law for the opinion of the Court of Appeal under and in terms of section 122 (2) of the Inland Revenue Act, No. 28 of

1979.

SriLankan Airlines Limited, Airline Centre, Bandaranaike International Airport, Katunayake.

Appellant Case No. CA/TAX/0002/2010 Tax Appeals Commission No. BRA-523/SCA-226 Vs.

The Commissioner General of Inland Revenue, Department of Inland Revenue, Sir Chittampalam A.Gardiner Mawatha, Colombo 02. Respondent Before : Dr. Ruwan Fernando J. &

M. Sampath K.B. Wijeratne J.

Counsel : : Dr. Shivaji Felix with Nivantha Satharasinghe for the Appellant Manohara Jayasinghe, D.S.G. for the Respondent.

Argued on : 10.09.2023 & 19.10.2022 :

Written Submissions filed on : 06.02.2023& 01.11.2019 (by the Appellant)

06.02.2023 & 11.03.2016 (bythe Respondent)

Decided on : 28.02.2023 Dr. Ruwan Fernando, J.

Introduction [1] This is an appeal by way of a case stated against the determination of the Board of Review dated 22.10.2009 confirming the assessment made by the assessor subject to variation with regard to the interest received from the Bank of Ceylon as exempt interest