ACL Cables PLC v. Commissioner General of Inland Revenue – CA TAX/0007/2013-2022

In the case between ACL Cables PLC and the Commissioner General of Inland Revenue, Department of Inland Revenue, Sri Lanka, the court addressed the validity of income tax assessments and the scope of a statutory exemption. The central issues concerned whether assessments for the years 2006/2007 and 2007/2008 were made within the period prescribed by Section 163(5) of the Inland Revenue Act No. 10 of 2006 or were time-barred, whether an amending statute extending the time period for assessments applied retrospectively, and the correct interpretation of the exemption for “industrial and machine tool manufacturing.” It was held that the assessment must be communicated within the stipulated statutory period to be valid, and the amendment extending this period applied prospectively and not retr