Deduction for small-scale industrial undertakings limited where undertaking ceases to qualify; turnover threshold increased for later years. The amendment limits the deduction for small-scale industrial undertakings by providing it in respect of each of the ten previous years beginning with the previous year in which the industrial undertaking began and by inserting a proviso disallowing the deduction for any of those years in which the undertaking is not a small-scale industrial undertaking as defined in the Explanation; it also adjusts the business-turnover thresholds for small-scale status to ten lakh for years ending before 1 August 1980 and to twenty lakh for years ending after 31 July 1980.
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Provisions expressly mentioned in the judgment/order text.
Deduction for small-scale industrial undertakings limited where undertaking ceases to qualify; turnover threshold increased for later years.
The amendment limits the deduction for small-scale industrial undertakings by providing it in respect of each of the ten previous years beginning with the previous year in which the industrial undertaking began and by inserting a proviso disallowing the deduction for any of those years in which the undertaking is not a small-scale industrial undertaking as defined in the Explanation; it also adjusts the business-turnover thresholds for small-scale status to ten lakh for years ending before 1 August 1980 and to twenty lakh for years ending after 31 July 1980.
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