Notification No. 144

Provisions sub-section (1) of the said section shall not apply to-- (a) a banking company as defined in clause (c) of section 5 notified under section 230A

What this is

Notification No. 144 was published on 9 July 1974. Its subject is Provisions sub-section (1) of the said section shall not apply to-- (a) a banking company as defined in clause (c) of section 5 notified under section 230A.

This notifies a named person, body, fund or instrument for the purpose of a provision. Nothing in it changes the provision itself.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.230A	no counterpart recorded

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

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)

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 1534 — Provisions of sub-section (1) of the said section shall not apply to :-- (a) a Government company as defined in sectio 24 March 1976
Circular No. 191 — Section 230A l Restrictions on Registration of Transfers of Immovable Property 4 March 1976
Notification No. 143 — Provisions of sub-section (1) of the said section shall not apply to an authority as is referred to in clause (20A) of s 21 May 1974

← Notification No. 1980 · Notification No. 1979 →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.