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of <h1>Deduction allowed for SBI site-restoration deposits for petroleum and gas businesses, capped at 20% of profits; diversion triggers clawback</h1> A statutory Schedule creates a deduction for deposits into designated site restoration accounts (maintained with the State Bank of India) for businesses engaged in petroleum/natural gas operations, limited to the lesser of actual deposits or 20% of pre-deduction profits, subject to audit, scheme conditions and strict withdrawal/use restrictions; diversion or closure triggers deeming/clawback rules and disallows duplicate deductions. Most edits between the Bill and the enacted Act are drafting or locational, but a material divergence exists: the Bill expressly deems amounts used to buy specified assets as taxable income on utilisation, whereas the Act's parallel provision primarily disallows the deduction (with other paragraphs still enabling deeming in certain cases).
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