Avoidance of tax and exclusion from tonnage tax scheme.

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....rangement which amounts to an abuse of the tonnage tax scheme. (2) For the purposes of sub-section (1), a transaction or arrangement shall be considered an abuse, if the entering into or the application of such transaction or arrangement results, or would but for this section have resulted, in a tax advantage being obtained for- (a) a person other than a tonnage tax company; or ....

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....y transaction or arrangement referred to in sub-section (1), the Assessing Officer shall, by an order in writing, exclude such company from the tonnage tax scheme. (5) The Assessing Officer shall pass an order under sub-section (4), after-- (a) giving an opportunity to the company by serving a notice calling upon such company to show cause, on a date and time to be specified in the not....