https://www.taxtmi.com/acts?id=46444 The amendment deems investment allowance under Section 32A wrongly allowed if the asset is sold or transferred to non public bodies within eight years, or if reserve account amounts are not used for qualifying new assets or are used for non business or outbound purposes within ten years; the Income tax Officer may recompute and amend the relevant assessment, applying the statutory amendment mechanism with the four year amendment period reckoned from the event that triggers the recomputation. en-us Thu, 19 Dec 2024 18:25:00 +0530 Thu, 19 Dec 2024 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46444 The amendment deems investment allowance under Section 32A wrongly allowed if the asset is sold or transferred to non public bodies within eight years, or if reserve account amounts are not used for qualifying new assets or are used for non business or outbound purposes within ten years; the Income tax Officer may recompute and amend the relevant assessment, applying the statutory amendment mechanism with the four year amendment period reckoned from the event that triggers the recomputation. Act-Rules F. Acts / Amendment Acts Thu, 19 Dec 2024 18:25:00 +0530 https://www.taxtmi.com/acts?id=46444