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

The Income-tax Act, 1961Central Act · Act 43 of 1961

Repealed. This text is published for reference. It is not in force, and it should not be relied on as current law without checking what replaced it. Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

F.—Miscellaneous

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, [or inland vessel, as the case may be,] which temporarily ceases to be a qualifying ship, such ship [or inland vessel, as the case may be,] shall not be considered as a qualifying ship for the purposes of this Chapter.

Where this provision sits

ActThe Income-tax Act, 1961
Section115VZA
Marginal noteEffect of temporarily ceasing to operate qualifying ships
JurisdictionCentral
StatusRepealed

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