Deduction limit for section 33AC revised to permit full profit-based deduction for specified assessment years under transitional proviso. The amendment inserts a proviso to section 33AC(1) effective from the assessment year beginning 1 April 2001, providing that for five assessment years ending before 1 April 2006 the words 'an amount not exceeding the profits' shall be substituted for the prior cap phrasing, thereby changing the measure of the allowable deduction under that sub section for the specified period.