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of <h1>Finance Act 1973 amends Section 35B of Income-tax Act to clarify expense classification for transport businesses from 1968.</h1> Section 35B of the Income-tax Act is amended by the Finance Act, 1973, to include a new Explanation 2, effective from April 1, 1968. Explanation 2 clarifies that for certain sub-clauses, expenses incurred by a taxpayer involved in the operation of ships, aircraft, or vehicles, or in arranging the carriage of passengers, livestock, mail, or goods, including expenses for crew and passengers, are not considered as expenses for supplying services or facilities outside India. Additionally, the existing explanation is renumbered as Explanation 1, also effective from the same date.
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