Tax relief for India's shipberakers.

The article reports on a decision by the Supreme Court of India relating to a case involving a major Indian ship dismantler which indicates that the shipbreaking industry can seek deductions from gross total income of up to 20% of profits and gains under Sections 80-I and 80-HH of the Indian Income Tax Act of 1961. According to the ruling, shipbreaking is tantamount to a production process and not a recycling process.