Once Tonnage Tax Scheme opted, no set off allowed against any deduction
July 4, 2024
Income Tax, ITAT
Once Tonnage Tax Scheme is opted, no set off against any deduction allowed – ITATÂ In a recent judgment, ITAT Hyderabad has held that once the assessee opts for a Tonnage Tax Scheme, then Tonnage income cannot be set off against any deduction provided under the Act. ABCAUS …