The High Court has allowed Tenaga Nasional Berhad’s judicial review application to set aside the Inland Revenue Board’s notices for the Years of Assessment 2015, 2016, and 2017 of RM3.97 million.
Accordingly, the High Court agreed with the submission of TNB’s legal counsel that the utility service provider is in the business of manufacturing electricity and as such, it is entitled to claim reinvestment allowance on the capital expenditure which was incurred in the YAs 2015, 2016 and 2017 in the course of expanding, modernising and automating its business.
