FASANMI JCA (Delivering the Lead Judgment): This is an appeal against the judgment of the Value Added Tax Tribunal sitting at Ibadan delivered on 13 March 2006. The tribunal entered judgment against the appellant in the sum of N134,817,258.00 (one hundred and thirty-four million, eight hundred and seventeen thousand, two hundred and fifty-eight naira). Pre-judgment interest of N114,304,468 (one hundred and fourteen million, three hundred and four thousand, four hundred and sixty-eight naira) was also allowed. Consequently, the total judgment sum awarded in favour of the respondent was in the sum of N249,121,726.00 (two hundred and forty- nine million, one hundred and twenty-one thousand, seven hundred and twenty-six naira). The appellant being dissatisfied with the decision of the VAT Tribunal, appealed to this honourable court.
The summary of the case is that the appellant, a public limited liability company engaged in the manufacture and sale of beverages, chocolate and cocoa relat…