Amendment of section 36

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...."any debt or part thereof which is established to have become a bad debt in the previous year", the words "any bad debt or part thereof which is written off as irrecoverable in the accounts of the assessee for the previous year" shall be substituted; (iii) in clause (viia), in the Explanation, for clause (ii), the following clause shall be substituted, namely :- '(ii) "schedu....

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....ebt or part thereof has been taken into account in computing the income of the assessee of the previous year in which the amount of such debt or part thereof is written off or of an earlier previous year, or represents money lent in the ordinary course of the business of banking or money-lending which is carried on by the assessee;"; (ii) in clause (iii), after the words "earlier previous....