Tax treatment of vessels extended to include inland vessels alongside ships for taxation purposes under existing law. The amendment expands the taxable vessel category under section 115VB by expressly including inland vessels alongside ships, inserting "or inland vessel, ... Summary
Tax treatment of vessels extended to include inland vessels alongside ships for taxation purposes under existing law.
The amendment expands the taxable vessel category under section 115VB by expressly including inland vessels alongside ships, inserting "or inland vessel, as the case may be," after each statutory reference to a ship so that the provision and its proviso apply equally to inland vessels.
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