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of <h1>History and repeal of Section 80K deduction for dividend income tied to new industrial undertakings, ships, and hotels</h1> Section 80K, now omitted, historically provided a deduction for assessee's dividend income to the extent attributable to profits of new industrial undertakings, ships, or hotel businesses where the company paid no tax or was entitled to deductions under section 80J for specified assessment years. The provision, introduced in 1968 and amended in subsequent years, extended to owners of shares and persons taxable on dividend income of others, and included temporal limitations excluding undertakings, ships or hotels commencing operations after specified dates. The section was inserted, amended several times, and ultimately omitted effective 1 April 1987.
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