Exclusion of Chapter VII tax rules for specified interbank transactions removes certain interbank dealings from the chapter's scope. Insertion of section 112A excludes specified interbank dealings from the scope of Chapter VII of the Finance Act, 2005. With effect from 1 June 2005, the chapter's provisions shall not apply to taxable banking transactions entered into between a scheduled bank and a banking company or a co operative bank, or between a scheduled bank and another scheduled bank.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exclusion of Chapter VII tax rules for specified interbank transactions removes certain interbank dealings from the chapter's scope.
Insertion of section 112A excludes specified interbank dealings from the scope of Chapter VII of the Finance Act, 2005. With effect from 1 June 2005, the chapter's provisions shall not apply to taxable banking transactions entered into between a scheduled bank and a banking company or a co operative bank, or between a scheduled bank and another scheduled bank.
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