Interest from Inter Corporate Deposit Taxed as Business Income Can Be Written Off as Bad Debt u/s 36(1)(vii.

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....Bad debts - Inter Corporate Deposit (ICD) - once interest income has been taxed as business income, and the assessee has written off this amount as irrecoverable, the same has to be allowed as bad debt under section 36(1)(vii) r/w section 36(2) - AT....