https://www.taxtmi.com/caselaws?id=33350 Kerala HC held that a company's eligibility for tonnage tax scheme under section 115VP cannot be determined solely by examining object clauses in memorandum of association. The court interpreted "main object" in section 115VC(d) based on actual business activities rather than formal documentation requirements under Companies Act. HC quashed the decision denying tonnage tax benefits and remanded the matter to statutory appellate authority for consideration of other eligibility criteria, ruling that companies incorporated before 1965 amendment need not classify objects as principal or ancillary in their constitutional documents. en-us Fri, 01 Feb 2008 00:00:00 +0530 Wed, 11 Jun 2025 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33350 Kerala HC held that a company's eligibility for tonnage tax scheme under section 115VP cannot be determined solely by examining object clauses in memorandum of association. The court interpreted "main object" in section 115VC(d) based on actual business activities rather than formal documentation requirements under Companies Act. HC quashed the decision denying tonnage tax benefits and remanded the matter to statutory appellate authority for consideration of other eligibility criteria, ruling that companies incorporated before 1965 amendment need not classify objects as principal or ancillary in their constitutional documents. Case-Laws Income Tax Fri, 01 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33350