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of <h1>Finance Act 1997 amends Section 172 of Income-tax Act to include payments for demurrage and handling charges.</h1> Section 172 of the Income-tax Act has been amended by the Finance Act, 1997, to include a new sub-section (8). This addition clarifies that for the purposes of section 172, the amount mentioned in sub-section (2) will encompass any payments made or due for demurrage charges, handling charges, or any similar expenses. This amendment is retroactively effective from April 1, 1976.
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