Deduction under section 80HHF phased down over years to nil and extended to resident non-company taxpayers. Amendment widens section 80HHF to include resident non-company persons and substitutes the prior grant with a deduction 'to the extent of profits' effective 1 April 2001; a new sub-section (1A) phases allowable deduction rates at eighty, sixty, forty and twenty per cent for assessment years beginning 1 April 2001 through 1 April 2004 respectively, with no deduction from the assessment year beginning 1 April 2005 onward.
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Provisions expressly mentioned in the judgment/order text.
Deduction under section 80HHF phased down over years to nil and extended to resident non-company taxpayers.
Amendment widens section 80HHF to include resident non-company persons and substitutes the prior grant with a deduction "to the extent of profits" effective 1 April 2001; a new sub-section (1A) phases allowable deduction rates at eighty, sixty, forty and twenty per cent for assessment years beginning 1 April 2001 through 1 April 2004 respectively, with no deduction from the assessment year beginning 1 April 2005 onward.
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