IWS Investment (Private) Limited v. The Commissioner General of Inland Revenue – CA TAX/0052/2019-2021

In IWS Investment (Private) Limited (formerly Interfreight (Private) Limited) v. The Commissioner General of Inland Revenue, Department of Inland Revenue, the court addressed whether the Assessor, Commissioner General of Inland Revenue, or the Tax Appeals Commission (TAC) erred in calculating the Appellant’s taxable income, specifically regarding a disputed credit balance included as income. It was held that the tax authorities did not act arbitrarily or unlawfully, reaffirming the principle that taxes must be imposed by clear and unambiguous statutory authority. The decision was based on interpretation of the Inland Revenue Act, particularly Section 103, and established precedents, emphasizing the necessity for taxpayers to satisfactorily reconcile discrepancies in their accounts and the