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[Cites 0, Cited by 0] [Section 230] [Entire Act]

Union of India - Subsection

Section 230(2) in The Income Tax Act, 2025

(2)Section 112 shall apply in respect of any losses that have accrued to a company before its option for tonnage tax scheme and which are attributable to its tonnage tax business, as if such losses had been set off against the relevant shipping income in any of the tax years when the company is under the tonnage tax scheme.