The Appellant vide a letter dated 20th January, 2023 sought a private ruling from the Respondent regarding whether it could include the share of profit from Watu Credit and Cummins C & G Joint Venture in determining it’s earnings before interest, tax, depreciation, and amortization (EBITDA).The Respondent through a private ruling dated 1st March, 2023 informed the Appellant that it could not include the share of profits from Watu Credit and Cummings C & G Joint Venture in its EBITDA. The Respondent thereafter vide a letter dated 17th May, 2023 issued a pre-assessment notice informing the Appellant of its intention to amend its Corporation tax return for the year of income ended September 2022 to restrict the deductible interest expense.