Section 114: Time limits for action if tax adjustment makes reduction too large or too small
246.This section permits assessments or claims to be made after the normal time limits, if the reduction given under section 112(1) or 113(2) is found to be excessive or insufficient by reason of an adjustment of the amount of tax payable. It is based on section 811(4) of ICTA and section 278(2) of TCGA.