https://www.taxtmi.com/caselaws?id=61824 The tribunal dismissed one appeal and partly allowed another regarding the issues of reopening assessment under section 147 for annuity income, withdrawal of investment allowance on fishing boats, and disallowance of contributions to a trust exceeding actual expenditure. It held that withdrawal of investment allowance should be under section 155, not section 147, emphasizing the time limit for withdrawal. The tribunal clarified that section 155(4A) governs the withdrawal of investment allowance within eight years and that general provisions like section 147 cannot be used to correct such errors. en-us Wed, 26 Feb 1992 00:00:00 +0530 Sat, 15 Jan 2011 14:21:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61824 The tribunal dismissed one appeal and partly allowed another regarding the issues of reopening assessment under section 147 for annuity income, withdrawal of investment allowance on fishing boats, and disallowance of contributions to a trust exceeding actual expenditure. It held that withdrawal of investment allowance should be under section 155, not section 147, emphasizing the time limit for withdrawal. The tribunal clarified that section 155(4A) governs the withdrawal of investment allowance within eight years and that general provisions like section 147 cannot be used to correct such errors. Case-Laws Income Tax Wed, 26 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61824