Special provision for computing profits and gains of shipping business other than cruise shipping in case of non-residents.

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Full Text of the Document

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.... anything to the contrary contained in sections 28 to 43A, in the case of an assessee, being a non-resident, engaged in the business of operation of ships, ^4[other than cruise ships referred to in section 44BBC,] a sum equal to seven and a half per cent of the aggregate of the amounts specified in sub-section (2) shall be deemed to be the profits and gains of such business chargeable to tax under....