This section has undergone changes from time to time since the date of its enactment and we will, therefore, reproduce it in the form in which it was during the assessment years 1968 69 and 1969 70 being the assessment years with which we are concerned in these cases: 997 "80 M. DEDUCTION IN RESPECT OF CERTAIN INTER CORPORATE DIVIDENDS: (1) Where the gross total income of an assessee being a company includes any income by way of dividends received by it from a domestic company, there shall, in accordance with and subject to the provisions of the section, be allowed, in computing the total income of the assessee, a deduction from such income by way of dividends of an amount equal to (a) where the assessee is a foreign company (i) in respect of such income by way of dividends received by it from an Indian company which is not such a company as is referred to in section 10B and which is mainly engaged in a priority industry. 80% of such income (ii) in respect of such income by way of dividends other than the dividends referred to in subclause (i). . 65% of such income.