Income Tax Act, 1961 Section 115VZA - Bare Act |
| State | Central Government |
| Year | 1961 |
| Section Title | Effect of Temporarily Ceasing to Operate Qualifying Ships |
(1) A temporary cessation (as against permanent cessation) of operating any qualifying ship by a company shall not be considered as a cessation of operating of such qualifying ship and the company shall be deemed to be operating such qualifying ship for the purposes of this Chapter.
(2) Where a qualifying company continues to operate a ship, which temporarily ceases to be a qualifying ship, such ship shall not be considered as a qualifying ship for the purposes of this Chapter.