(6)The amount of deduction in the case of the business of a ship shall be thirty per cent. of the profits and gains derived from such ship for a period of ten consecutive assessment years including the initial assessment year provided that the ship-(i)is owned by an Indian company and is wholly used for the purposes of the business carried on by it;(ii)was not, previous to the date of its acquisition by the Indian company, owned or used in Indian territorial waters by a person resident in India; and(iii)is brought into use by the Indian company at any time during the period beginning on the 1st day of April, 1991 and ending on the 31st day of March, 1995.
