Section 21 of ITA, 1961 : Section 21: [Omitted]

Explanation using Example

Imagine a taxpayer named Rohit had invested in certain government securities and was earning interest from them. Prior to April 1, 1989, there could have been specific amounts that were not deductible from the interest earned on these securities when calculating taxable income. However, since this provision (Section 21 of The Income-tax Act, 1961) was omitted effective from April 1, 1989, by Section 10 of an amending Act, there is no longer a list of non-deductible amounts from such interest. Therefore, when Rohit calculates his taxable income for the current assessment year, he will not refer to the omitted Section 21, as it is no longer applicable, and he will instead follow the current provisions of the Income-tax Act that are in effect.