https://www.taxtmi.com/caselaws?id=799124 Relevant shipping income under the Tonnage Tax Scheme is confined by section 115VI and Rule 11R to core ship-operating or dredging activities and prescribed incidental activities with a direct operational nexus. Scrap, empties, waste oil, exchange differences, insurance claims and provision write-backs qualified, while tender-document receipts, liquidated damages, salary recoveries, training fees and other operating income did not; service charges received differing treatment across the relevant assessment years. Sponsorship for the Maritime India Summit was deductible under section 37(1) because it promoted business activities and had a commercially expedient connection with future operations, despite being described as a donation. en-us Wed, 15 Jul 2026 00:00:00 +0530 Thu, 17 Sep 2026 07:52:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799124 Relevant shipping income under the Tonnage Tax Scheme is confined by section 115VI and Rule 11R to core ship-operating or dredging activities and prescribed incidental activities with a direct operational nexus. Scrap, empties, waste oil, exchange differences, insurance claims and provision write-backs qualified, while tender-document receipts, liquidated damages, salary recoveries, training fees and other operating income did not; service charges received differing treatment across the relevant assessment years. Sponsorship for the Maritime India Summit was deductible under section 37(1) because it promoted business activities and had a commercially expedient connection with future operations, despite being described as a donation. Case-Laws Income Tax Wed, 15 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799124