IndusInd Bank and Manappuram Finance Fined by RBI for Interest Rate and KYC Non-Compliance
The IndusInd Bank and Manappuram Finance were fined by the Reserve Bank of India ( RBI ) for the violation of interest rate directions and KYC...
![Cash Deposit Made in Bank Account Stands Thoroughly and Properly Explained: ITAT Deletes Addition of Rs. 7.43 Crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-tax-appellate-tribunal-income-tax-act-income-tax-Tax-news-TAXSCAN.jpg "Cash Deposit Made in Bank Account Stands Thoroughly and Properly Explained: ITAT Deletes Addition of Rs. 7.43 Crore [Read Order]")
GST Council notes Clarifications on Taxability of Personal Guarantee offered by Directors to Bank against Credit Limits
The 52nd GST Council Meeting headed by Finance Minister Nirmala Sitharaman noted clarifications on taxability of personal guarantee offered by directors to bank against credit limits. The Council...
No Obligation on Bank to Deduct TDS from Interests on FD Paid to Jammu Development Authority: J & K and Ladakh HC [Read Order]
The Jammu and Kashmir and Ladakh High Court observed that there is no obligation on the bank to deduct Tax Deduction at Source (TDS) from interests on fixed deposit (FD) paid to Jammu Development...
![No Obligation on Bank to Deduct TDS from Interests on FD Paid to Jammu Development Authority: J & K and Ladakh HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-Obligation-on-Bank-to-Deduct-TDS-from-Interests-on-FD-Bank-Deduct-TDS-from-Interests-on-FD-Paid-to-Jammu-Development-Authority-J-K-and-Ladakh-High-Court-TDS-Taxscan.jpg "No Obligation on Bank to Deduct TDS from Interests on FD Paid to Jammu Development Authority: J & K and Ladakh HC [Read Order]")
Bank cannot make Look Out Circular a Recovery Norm, as it Violates Fundamental Right of Movement: Calcutta HC allows WP [Read Order]
The Calcutta High Court has held that banks cannot make lookout circular a recovery norm as it violates the fundamental right of movement and allowed the Writ Petition (WP). Mannoj Kumar Jain...
ED unearths properties worth almost 100 Crore Rupees and seizes Rs. 14.5 lakhs Cash from Bharat Infra in Search related to Bank Fraud Case
The Enforcement Directorate (ED) seized Rs.1.5 lakhs cash from Bharat Infra Exports and Imports Ltd in search related to Bank Fraud Case and unearthed properties worth almost 100 crore rupees. The...
Supreme Court Refuses Urgent Listing for Plea Challenging Exchange of Rs. 2000 notes in bank without ID proofs
The Vacation bench of Justice Sudhanshu Dhulia and Justice KV Viswanathan of Supreme Court refused the urgent listing for plea challenging the notifications of the Reserve Bank of India (RBI) and...
Non-Payment of Amount Due to Bank is Default under S. 3(12) of IBC: SC Dismisses Appeal [Read Judgement]
The Supreme Court viewed the non-payment of the amount due to the bank as a default under Section 3(12) of the Insolvency and Bankruptcy Code, 2016 (IBC)and dismissed the appeal. The respondent...
