Fishing vessel definition under income tax law adopts maritime-law meaning, ensuring a common statutory interpretation across tax provisions. Fishing vessel for income-tax purposes carries the meaning assigned in section 3(12) of the Merchant Shipping Act, 1958. Section 235 of the Income Tax ... Summary
Fishing vessel definition under income tax law adopts maritime-law meaning, ensuring a common statutory interpretation across tax provisions.
Fishing vessel for income-tax purposes carries the meaning assigned in section 3(12) of the Merchant Shipping Act, 1958. Section 235 of the Income Tax Act, 2025 and section 115V(e) of the Income Tax Act, 1961 each incorporate that maritime-law definition rather than creating an independent income-tax definition, preserving a common statutory meaning across the respective income-tax provisions.
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