Commissioner General of Inland Revenue vs. Holcim Lanka Limited – CA TAX/0018/2015-2015

In the case between the Commissioner General of Inland Revenue and Holcim Lanka Limited, the court addressed the entitlement to a tax exemption period and its correct commencement date under the relevant Board of Investment (BOI) agreements. It was held that Holcim Lanka Limited is entitled to a 12-year tax exemption to commence from 01.01.2001, as certified by the BOI, rather than a 10-year period from 01.04.1999. The principle reaffirmed is that determinations and certificates issued by the BOI under the relevant statutory powers are conclusively binding as to the period and commencement of granted tax holidays, unless successfully challenged via writ proceedings. The decision relied on the legislative framework, terms of the agreements with the BOI, and relevant case law, underscoring t