Bad debt written off of non -rural Bank is held to be allowable as deduction. Followed Catholic Syrian Bank Ltd v. CIT (2012) 343 ITR 270 (SC) (AY. 1996 -97 to 2006 -07)
Dhanalakshmi Bank Ltd. v. CIT (2019) 410 ITR 280 / 261 Taxman 521/ 177 DTR 48/ 308 CTR 484(Ker.) (HC)
S. 36(1)(vii) : Bad debt—Non-rural banks written off—Held to be allowable as deduction-Deductible. [S. 36(1)(viia)]