Relevant shipping income and exclusion from book profit.

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....Part and shall be taxable under the other provisions of this Act. (3) The core activities of a tonnage tax company shall be- (a) its activities from operating qualifying ships; and (b) other ship-related or inland vessel related activities, as the case may be, as follows:- (i) shipping contracts in respect of- (A) earning from pooling arrangements; (B) contracts of affreightment; (ii) specific shipping trades, being- (A) on-board or on-shore activities of passenger ships comprising of fares and food and beverages consumed on-board; (B) slot charters, space charters, joint charters, feeder services and container box leasing of container shipping. (4) For the purposes of sub-section (3)(b)(i),-- (a) "pooling arrangement" m....

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....that notification. (7) The incidental activities shall be the activities which are incidental to the core activities and as may be prescribed for the purpose. (8) Where a tonnage tax company operates any ship or inland vessels as the case may be, which is not a qualifying ship, the income attributable to operating such non-qualifying ship shall be computed under other provisions of this Act. (9) Where any goods or services held for the purposes of- (a) tonnage tax business are transferred to any other business carried on by a tonnage tax company; or (b) any other business carried on by such tonnage tax company are transferred to the tonnage tax business, and, in either case, the consideration, if any, for such transfer as recorded i....