# The Finance Act, 1981, Section 10: Amendment of section 80HHA

- Act: The Finance Act, 1981 (Act 16 of 1981)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1981/section/10/

## Text

Amendment of section 80HHA. 10. In section 80HHA of the Income-tax Act,— (a) in sub-section (3),— (i) for the words "in respect of each of the ten assessment years beginning with the assessment year relevant to the previous year in which the small-scale industrial undertaking", the words "of each of the ten previous years beginning with the previous year in which the industrial undertaking" shall be substituted; (ii) the following proviso shall be inserted at the end, namely:— "Provided that such deduction shall not be allowed in computing the total income of any of the ten previous years aforesaid in respect of which the industrial undertaking is not a small-scale industrial undertaking within the meaning of clause (b) of the Explanation below sub-section (8)."; (b) in sub-section (8), in clause (b) of the Explanation, for the words "the business of the undertaking does not exceed ten lakh rupees; and for this purpose the value of any machinery or plant shall be,—", the following shall be substituted, namely:— "the business of the undertaking does not exceed,— (i) in a case where the previous year ends before the 1st day of August, 1980, ten lakh rupees; and (2) in a case where the previous year ends after the 31st day of July, 1980, twenty lakh rupees, and for this purpose the value of any machinery or plant shall be,—". [Finance Act, 1981] © Copyright. Taxmann Publications Pvt. Ltd.

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