ICCI BANK LTD
vs.
COMMISSIONER GENERAL OF INLAND REVENUE
(INCOME TAX STATED CASE)

COURT OF APPEAL
CHITHRASIRI, J.
DEHIDENIYA, J.
CA TAX 28/2013
MARCH 25, 2015
APRIL 28, 2015

In the matter of a case stated by the Tax Appeal Commission for the opinion of the Court of Appeal under Section 170 - Inland Revenue Act No. 10 of 2006

Cases referred to :

1. Rhodosia Metals Ltd Vs. Commissioner of Taxes -1940-3 All ER 422

2. Rodrigo Vs. Commissioner General of Inland Revenue - 2002 - 1 Sri LR 384

F.N. Gunawardane with Sheranka Madanayake for Appellant

Arjuna Obeysekara DSG for Respondent.

Opinion of Court, July 16, 2015

L.T.B.DEHIDENIYA.J.

This is a case stated for the opinion of the Court of Appeal by the Tax Appeals Commission under section 170 of the Inland Revenue Act No. 10 of 2006. Seven question of law have been raised seeking opinion of this Court. At the argument, the party requiring it to be stated (hereinafter referred to as the Appellant) agreed that the question nos. 1 and 7 need not be answered. The rest of the questions are as follows:

2. Does the Appellant carry on more than one trade, business, profession or vocation in terms of sec