CBDT notifies that the provisions sub-section (1) of section 230A shall not apply to various sections mentioned below - S.O.144 - Income Tax

CBDT notifies that the provisions sub-section (1) of section 230A shall not apply to various sections mentioned below NOTIFICATION NO. S.O.144 DATED 9-7-1974 In exercise of the powers conferred by sub-section (3) of section 230A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby notifies that the provisions sub-section (1) of the said section shall not apply to-- ( a ) a banking company as defined in clause ( c ) of section 5 of the Banking Regulation Act, 1949, (10 of 1949) ; ( b ) the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955) ; ( c ) a subsidiary bank as defined in clause ( k ) of section 2 of the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959) ; and ( d ) a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970)