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[Cites 0, Cited by 0] [Section 115VU] [Entire Act]

Union of India - Subsection

Section 115VU(3) in The Income Tax Act, 1961

(3)If the minimum training requirement is not complied with for any five consecutive previous years, the option of the company for tonnage tax scheme shall cease to have effect from the beginning of the previous year following the fifth consecutive previous year in which the failure to comply with the minimum training requirement under sub-section (1) had occurred.