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[Cites 0, Cited by 0] [Section 234] [Entire Act]

Union of India - Subsection

Section 234(2) in The Income Tax Act, 2025

(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
(b)a tonnage tax company in respect of its non-tonnage tax activities.