Section 141 — Deduction in respect of profits and gains from certain industrial under-takings

In respect of any tax year, where—
( a) the gross total income of an assessee, includes any profits and gains
derived from any business referred to in section 80-IB of the Income-
tax Act, 1961 (43 of 1961); and
( b) such assessee is eligible to claim a deduction from the profits and gains
derived from such business for such tax year under the provisions of the
said section, as if the said Act had not been repealed,
there shall be allowed, in computing the total income of the assessee, a deduction
from the profits and gains derived from such business, subject to the conditions that—
12. Substituted for “one” by the Finance Act, 2026, w.e.f. 1-4-2026.
( i) the amount of deduction is calculated as per the provisions of section
80-IB of the Income-tax Act, 1961 (43 of 1961); and
( ii) the deduction under this Act shall be allowed only for such tax years,
as would have been allowed under section 80-IB of the Income-tax Act,
1961 (43 of 1961), as if the said Act had not been repealed.