Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Tonnage tax: Relevant shipping income defined for qualifying ships, with market value adjustments and related party controls. Framework for computing relevant shipping income of a tonnage tax company: income comprises profits from core activities (operating qualifying ships and prescribed ship-related or inland-vessel activities including pooling arrangements, contracts of affreightment, passenger on-board/on-shore receipts, charters and container leasing) and prescribed incidental activities, subject to exclusion where incidental receipts exceed a threshold. Non-qualifying ships are taxed under general provisions. Transfers between tonnage and other business must be valued at market value; the Assessing Officer may adjust computations and related-party arrangements to reflect ordinary profits.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tonnage tax: Relevant shipping income defined for qualifying ships, with market value adjustments and related party controls.
Framework for computing relevant shipping income of a tonnage tax company: income comprises profits from core activities (operating qualifying ships and prescribed ship-related or inland-vessel activities including pooling arrangements, contracts of affreightment, passenger on-board/on-shore receipts, charters and container leasing) and prescribed incidental activities, subject to exclusion where incidental receipts exceed a threshold. Non-qualifying ships are taxed under general provisions. Transfers between tonnage and other business must be valued at market value; the Assessing Officer may adjust computations and related-party arrangements to reflect ordinary profits.
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