Section 33 2 defines that In the case of a ship acquired or machinery or plant installed after the 31st day of December 1957 where the total income of the assessee. The amount credited to the reserve account under sub-section 1 shall be utilised by the assessee before the expiry of a period of eight years next. Taxtips Ca Business 2020 Corporate Income Tax Rates 1 Subject to this Act the adjusted income of a person from a source for the basis period for a year of. . Table of Contents. Held that the old section 33 was an annihilating section like section 260 of the Australia Income Tax. The Income Tax Department NEVER asks for your PIN numbers. Personal Income Tax Act CHAPTER P8. Section 33B of IT Act 1961-2020 provides for reserves for rehabilitation allowance. 1 Short title 2 Interpretation. Ii the cost of seeds cutting and. Section 331 of the Income Tax Act 1967 ITA reads as follows. Section 331 of the I