Held that the amount written off as the Bank in which the fixed deposit was kept went in to liquidation. Allowable as bad debt. (AY: 2014-15)
ACIT v. Himatnagar Nagrik Sahkari Bank Ltd. (2021) 90 ITR 64 (SN) (Ahd.)(Trib.)
S. 36(1)(vii) : Bad debt-Co-Operative Bank-Fixed deposit with another Bank-Liquidation-Amount written off-Allowable as bad debt.