First, compute the total income of the concerned assessse in accordance with the other provisions of the Act, i.e., in accordance with all the provisions except section 80E; secondly, ascerta what Part of the total income so computed represses the profits and gains attributable to the business of the specified industry (here generation and distribution of electricity); and, thirdly, if there be profits and gains so attributable, deduct 8 per cent thereof from such profits and gains and then arrive at the net total income exigible to tax." The learned Judge then proceeded to apply this interpretation of sub section (1) of Section 80E to the facts of the case before him and observed: "As indicated earlier, sub section (1) contemplates three steps being taken for computing the special deduction permissible thereunder and arriving at the net income exigible to tax find the first two steps read together contain the legislative mandate as to how the total income of which the profits and gains attributable to the busi 805 ness of the specified industry forms a part of the concerned assessee is to be computed and according to the parenthetical clause, which contains the key words, the same is to be computed in accordance with the provisions of the Act except section 80E and since in this case it is income from business the same will have to be computed in accordance with sections 30 to 43A which would include section 32(2) (which provides for carry forward of depreciation) and section 33(2) (which provides for carry forward of development rebate for eight years).