People’s Leasing and Finance PLC vs The Commissioner General of Inland Revenue – CA TAX/0021/2019-2021

In the case between People’s Leasing and Finance PLC and the Commissioner General of Inland Revenue, the court addressed whether the Commissioner General acted correctly in aggregating multiple taxable periods in a single assessment under the Value Added Tax Act (VAT Act), and whether such assessments were time-barred. The dispute also involved determining VAT liability for the Appellant’s income from share trading, dividends, and interest on financial assets, as well as the procedural validity of appeal acknowledgments and statutory obligations regarding annual adjustments and zero-rated supplies. It was determined that aggregation of taxable periods was permissible where precise allocation was impracticable due to insufficient disclosure by the taxpayer. The Appellant’s failure to provid