![FinMin exempts Indian Bank from Banking Regulations Act for exceeding Shareholding in ASREC (India) Limited [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/05/indian-bank-site-img.jpg "FinMin exempts Indian Bank from Banking Regulations Act for exceeding Shareholding in ASREC (India) Limited [Read Notification]")
FinMin exempts Indian Bank from Banking Regulations Act for exceeding Shareholding in ASREC (India) Limited [Read Notification]
The Ministry of Finance has announced a notification allowing Indian Bank a temporary exemption from certain provisions of the Banking Regulation...
![ITAT rules Section 115JB Inapplicable to SBI for AY 2006-07, Exempts Banks from MAT Provisions [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-ITAT-Mumbai-Section-115JB-of-Income-Tax-Act-Income-Tax-Act-TAXSCAN.jpg "ITAT rules Section 115JB Inapplicable to SBI for AY 2006-07, Exempts Banks from MAT Provisions [Read Order]")
![Failure to Consider Income Tax Assessees Request for Personal Hearing Amounts to Violation of Natural Justice: Kerala HC Rules in favour of Federal Bank [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-Kerala-High-Court-Violation-of-Natural-Justice-Kerala-HC-Rules-in-favour-of-Federal-Bank-taxscan.jpg "Failure to Consider Income Tax Assessees Request for Personal Hearing Amounts to Violation of Natural Justice: Kerala HC Rules in favour of Federal Bank [Read Judgment]")
Banking company as per section 2(c) of Banking regulations Act, would be eligible for claim of deduction u/S 80P(2)(d) of Income Tax Act : ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Authority ( ITAT ) observed that Banking company as per Section 2(c) of Banking regulations Act, 1949, would be eligible for claim of deduction under...
![Banking company as per section 2(c) of Banking regulations Act, would be eligible for claim of deduction u/S 80P(2)(d) of Income Tax Act : ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-Income-Tax-ITAT-Bangalore-ITAT-ruling-on-Banking-Regulations-Act-Banking-company-tax-deduction-TAXSCAN.jpg "Banking company as per section 2(c) of Banking regulations Act, would be eligible for claim of deduction u/S 80P(2)(d) of Income Tax Act : ITAT [Read Order]")
Interest earned from Commercial /Cooperative Bank having License under Banking Regulation Act is considered under Head of Income From Other Sources: ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that interest earned from commercial /cooperative banks having a license under the Banking Regulation Act is considered under...
![Interest earned from Commercial /Cooperative Bank having License under Banking Regulation Act is considered under Head of Income From Other Sources: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Cooperative-Bank-Commercial-Bank-Banking-Regulation-Act-TAXSCAN.jpg "Interest earned from Commercial /Cooperative Bank having License under Banking Regulation Act is considered under Head of Income From Other Sources: ITAT [Read Order]")
Co-operative Banks Engaged in Banking Activity are subject to Overall Control of Reserve Bank of India: Kerala HC [Read Order]
In a recent case, the Kerala High Court held that the cooperative banks engaged in banking activity are subject to the overall control of the Reserve Bank of India. The writ petition was...
![Co-operative Banks Engaged in Banking Activity are subject to Overall Control of Reserve Bank of India: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Co-operative-Banks-Banking-Activity-Reserve-Bank-of-India-Kerala-HC-taxscan.jpg "Co-operative Banks Engaged in Banking Activity are subject to Overall Control of Reserve Bank of India: Kerala HC [Read Order]")
RBI Penalizes ICICI Bank and Kotak Mahindra with ₹12.19 Cr and ₹3.95 Cr Fines for Regulatory Violations
The Reserve Bank of India (RBI) has imposed fines of ₹12.19 Cr and ₹3.95 Cr on the Industrial Credit and Investment Corporation of India (ICICI) and Kotak Mahindra, respectively, for violations of...
Cooperative Credit Society Eligible for Income Tax Exemption u/s 80(P)(2) of Income Tax Act: Supreme Court [Read Order]
In a major decision the Supreme Court of India ruled that the cooperative credit society is eligible for income tax exemption under Section 80(P)(2) of Income Tax Act, 1961. Feeling aggrieved and...
![Cooperative Credit Society Eligible for Income Tax Exemption u/s 80(P)(2) of Income Tax Act: Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Cooperative-Credit-Society-Income-Tax-Exemption-Income-Tax-Act-Supreme-Court-TAXSCAN.jpg "Cooperative Credit Society Eligible for Income Tax Exemption u/s 80(P)(2) of Income Tax Act: Supreme Court [Read Order]")
