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FinMin Amalgamates 20 RRBs into 8 Consolidated Entities in 6 States under Union Bank, PNB, SBI, BoB, Canara & Indian Bank [Read Notification]

The changes are slated to streamline the regional banking sector across the 6 states and strengthen credit delivery. The Department of ...

Corporate Law Case Digest: Key NCLT Rulings of 2025 [Part 3]

Annual Tax and Corporate Law Digest 2025: High Court Cases [Part XXXII]

SBI could Not be Treated as an "Assessee in Default" for Non-deduction of TDS on LTC Payments: ...

Unsecured Loan Genuine and Merely Carried Forward from Earlier Year, Not Fresh Borrowing: ITAT...

Rs 1.90 Crore FDR Renewal Not a Fresh Investment: ITAT Upholds Deletion of Addition u/s 69 [Read Order]

The Delhi bench of Income Tax Appellate Tribunal deleted the addition of Rs 1.90 Crore under Section 69, observing that the amount was a renewal of earlier FDs made to secure bank guarantees and no...

India to Create Two Globally Competitive Banks as part of Viksit Bharat vision

As part of its 'Viksit Bharat 2047' ambition to become a developed nation, India wants to build two globally competitive banks with assets that would place them among the top 20 lenders in the...

Cash Deposits Linked to Wife’s Agricultural Land Sale Beyond 8 Km of Municipality, Assessee Claims Not Taxable: ITAT Orders De Novo Adjudication [Read Order]

The Income Tax Appellate Tribunal (ITAT), Agra Bench, remanded the matter of cash deposit addition of Rs. 10.05L linked to sale of agricultural land of wife of Ex - Army man for fresh adjudication,...

Co-Op Society cannot Claim Income Tax Deduction on Interest from Regional Rural Bank Deposits: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad, has ruled that interest earned from deposits with Regional Rural Banks (RRBs) is not eligible for deduction under Section 80P of the Income Tax...

Expression “Parties” u/r 8(8) of SARFAESI Act not Mandate to include borrower and guarantor: Calcutta HC sets aside Order [Read Order]

In a recent case, the Calcutta High Court has held that the expression “parties” under rule 8(8) of the Securitisation And Reconstruction Of Financial Assets And Enforcement of Security Interest...

Disallowance of Rs.6.78 Lakh Cash Deposits as Unexplained Investment: ITAT Allows Claim Based on Agricultural, Transportation, and Family Income [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) allowed an appeal against the disallowance of Rs.6.78 lakh cash deposits under section 69 of Income Tax Act,1961 as unexplained...

CBI raids Anil Ambani Linked Premises in ₹2,000 Crore Bank Fraud Case

The Central Bureau of Investigation (CBI) has registered an FIR and carried out raids at places connected to industrialist Anil Ambani and his company Reliance Communications (RCOM). The action is ...