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Forex fluctuation gains on loan taken for purchase of ships entitled to benefit of tonnage taxation scheme

April 11, 2019[2019] 104 101 (Bombay)/[2019] 262 Taxman 326 (Bombay)

IT: Gains on account of exchange rate variations of foreign loan taken for purchase of ships being connected to assessee's core activities of operating qualifying ships would be entitled to benefit under Chapter XII-G

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