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[Cites 0, Cited by 0] [Section 232] [Entire Act]

Union of India - Subsection

Section 232(11) in The Income Tax Act, 2025

(11)For the purposes of this section, the expression "new ship" or "new inland vessel", as the case may be, includes a qualifying ship which, before the date of acquisition by the qualifying company was used by any other person, if it was not at any time previous to the date of such acquisition owned by any person resident in India.