Section 8 - Insertion of new section 112A - Taxation Laws (Amendment) Act, 2005.

8. Insertion of new section 112A. In Chapter VII of the Finance Act, after section 112, the following section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 2005, namely:- 112A. This Chapter not to apply in certain cases. The provisions of this Chapter shall not apply to, or in relation to, the taxable banking transactions entered into on or after the 1st day of June, 2005,- (a) between a scheduled bank and a banking company or a co-operative bank; or (b) between a scheduled bank and another scheduled bank. .