Omitted

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....fore it was read as, "^1[Deduction in respect of dividends attributable to profits and gains from new industrial undertakings or ships or hotel business. - 80K. Where the gross total income of an assessee, being the holder of any share or shares in a company, includes any income by way of dividends paid or deemed to have been paid to him by the company in respect of such share or....

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....ect of dividends attributable to profits and gains from new industrial undertakings or ships or hotel business. Where the gross total income of an assessee, being― (a) the owner of any share or shares in a company, or (b) a person who is chargeable to tax under this Act on the income by way of dividends on any share or shares in a company owned by any other person,....