https://www.taxtmi.com/caselaws?id=12179 The High Court of Madras upheld the withdrawal of investment allowance for the assessment years 1978-79 to 1981-82. The Revenue successfully raised an additional ground regarding the withdrawal of investment allowance, supported by legal provisions and precedents. The court ruled in favor of the Revenue on both issues, affirming the decision to withdraw the investment allowance due to the firm's dissolution and inability to utilize the reserve amount for business purposes within the specified period. en-us Mon, 26 Aug 2002 00:00:00 +0530 Thu, 18 Feb 2010 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12179 The High Court of Madras upheld the withdrawal of investment allowance for the assessment years 1978-79 to 1981-82. The Revenue successfully raised an additional ground regarding the withdrawal of investment allowance, supported by legal provisions and precedents. The court ruled in favor of the Revenue on both issues, affirming the decision to withdraw the investment allowance due to the firm's dissolution and inability to utilize the reserve amount for business purposes within the specified period. Case-Laws Income Tax Mon, 26 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12179