Section – 115VZ : Demerger
March 5, 2018
Section – 115VZB : Avoidance of tax
March 5, 2018

Section – 115VZA : Effect of temporarily ceasing to operate qualifying ships

115VZA. (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.

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