Whether natonalised banks would be regarded as banking companies for the purposes of deduction of interest on deposits with them under clause (vi) of sub-section (1)

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....sub-section (1) 1. A question has been raised as to whether the nationalised banks would be regarded as banking companies under the provisions of section 80L(1)(vi). The relevant provision reads as follows : "(vi) interest on deposits with a banking company to which the Banking Regulation Act, 1949, applies (including any bank or banking institution referred to in section 51 of that Act) or a co....