Assessee-bank is  neither formed nor registered under the Companies Act, 1956, nor it is an existing company as per the definition given in s. 3(1)(ii). Once it is not a company under the Companies Act, then the first condition referred to in cl. (b) of s. 115JB(2) is not fulfilled, and consequently, second proviso below s. 129(1) of the Companies Act is also not applicable. Deeming fiction in s. 11 of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 is created only for the purposes of the IT Act. Same would not ipso facto make such bank a ‘company’ for the purposes of the Companies Act, 2013, unless the conditions specified in s. 3 thereof are fulfilled. There is no provision to deem a nationalised bank to be a company for the purposes of s. 3 of the Companies Act, 1956. Fiction created by s. 11 of the Acquisition Act does not imply that the assessee-bank is a company for the purpose of the Companies Act to which cl. (b) of sub-s. (2) of s. 115JB is applicable. Second proviso to sub-s. (1) of s. 129 of the Companies Act has no application to the corresponding new bank as it is not a banking company for the purpose of the said provision. Expression “company” used in s. 115JB(2)(b) is to be inferred to be company under the Companies Act and not an entity which is deemed by a fiction to be a company for the purpose of the IT Act-Accordingly, cl. (b) to sub-s. (2) of s. 115JB inserted by Finance Act, 2012 w.e.f. 1st April, 2013 is not applicable to the banks constituted as ‘corresponding new bank’ in terms of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and therefore, the provision of s. 115JB cannot be applied to such banks. (AY. 2015-16)