Section 80TT

26. Section 80TT, as amended by the Finance (No. 2) Act, 1980, w.e.f. 1-4-1981 stood as under:

      "Where the gross total income of an assessee, not being a compa­ny, includes any income by way of winnings from any lottery (such income being hereinafter in this section referred to as winnings), there shall be allowed, in computing the total income of the assessee, a deduction from the winnings of an amount equal to,—

  (a)  in a case where the winnings do not exceed five thou­sand rupees, the whole of such winnings;

  (b)  in any other case, five thousand rupees as increased by a sum equal to fifty per cent of the amount by which the winnings exceed five thousand rupees."