Section 5 - Amendment of Section 33 - Finance (No. 2) Act, 1965

5. Amendment of Section 33 In section 33 of the Income-tax Act, in clause (iii) of sub-section (1), - (i) in sub-clause (a), for the figures 1966 , the figures 1965 shall be, and shall be deemed to have been, substituted with effect from the 1st day of April, 1965; (ii) for sub-clause (c), the following sub-clause shall be, and shall be deemed to have been, substituted with effect from the 1st day of April, 1965, namely :- (c) where the machinery or plant is installed after the 31st day of March, 1965, - (A) for the purposes of business of construction, manufacture or production of any one or more of the articles or things specified in the list in the Fifth Schedule, - (a) thirty-five per cent. of the actual cost of the machinery or plant to the assessee, where it is installed before the 1st day of April, 1970, and (b) twenty-five per cent. of such cost, where it is installed after the 31st day of March, 1970, and (B) for the purposes of any other business, - (a) twenty per cent. of the actual cost of the machinery or plant to the assessee, where it is installed before the 1st day of April, 1970, and (b) fifteen per cent. of such cost, where it is installed after the 31st day of March, 1970, .