IN THE COURT OF APPEAL OF THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA In the matter of an appeal by way of Stated Case on a question of law for the opinion of the Court of Appeal under and in terms of Section 11A of the Tax Appeals Commission Act, No. 23 of 2011 (as amended).

Sri Lanka Insurance Corporation Limited, No. 21, Vauxhall Street, Colombo 02. APPELLANT Case No. CA/TAX/0029/2019 Tax Appeals Commission No.

TAC/VAT/007/2015 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 : Nihal Fernando, PC. With Dr. Shivaji Felix and Harshula Seneviratne for the Appellant Milinda Gunetilleke, P.C. Additional Solicitor General with R. Gooneratne, State Counsel for the Respondent ARGUED ON : 27.01.2022, 01.04.2022, 20.05.2022, 30.05.202211.11.2022, & 13.12.2022 WRITTEN SUBMISSIONS FILED : 03.02.2023 & 02.03.2021 (by the Appellant)

21.02.2023 & 24.01.2022 (by the Respondent)

DECIDED ON : 03.05.2023 Dr. Ruwan Fernando, J.

Introduction [1] This is an appeal by way of Stated Case against the determination made by the Tax Appeals Commission dat