whether loss on FD can be set off against any othe

IF THE AMOUNT CAN BE WRITTTEN OFF AS BAD DEBT , then only the benefit of loss will be avaiable .Otherwise it will be a capital loss. Debt’ must have arisen as an incident of assessee’s business - A debt is allowable only when it is a debt and arises out of and is an incident to the trade. Except in money-lending trade, debts can only be so described if they are due from customers for goods supplied or are loans to constituents of transactions of a similar kind. In every case, the test is, was the debt due as an incident to the business? If it is not of that character it will be a capital loss - CIT v. Abdullabhai Abdulkadar [1961] 41 ITR 545 (SC)/Roop Narain Ram Chandra v. Addl. CIT [1978] 112 ITR 890 (All.)/CIT v. Harjasmal Mehra [1971] 79 ITR 213 (Punj. & Har.)/CIT v. S.R.Subramanya Pillai [1950] 18 ITR 85 (Mad

You can write off this as a BAD Debt