Interest exemption for deposits with nationalised banks affirmed; such banks treated as banking companies under tax law. Nationalised banks are regarded as banking companies for Income-tax Act purposes because the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 treats corresponding new banks as Indian companies and the Banking Regulation Act, 1949 has been made applicable to them; accordingly, interest on deposits with nationalised banks qualifies for inclusion within the statutory exemption category under the relevant provision, subject to its limits and conditions.