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2014 (2) TMI 1241 - AT - Income TaxDisallowance under 14A - Held that:- Assessee has earned tax free income to the extent of ₹ 24.92 lacs against which the disallowance. of ₹ 10 lacs under 14A has been sustained by CIT(A). Considering the totality of facts, we find that the disallowance that has been sustained by CIT(A) is on higher side and the ends of justice shall be met if the disallowance is restricted to ₹ 5 lacs. We thus direct accordingly. - Decided partly in favour of revenue Disallowance made on account of sundry debit balances written off - Held that:- We find that CIT(A) has given a finding the Assessee has written off net debit balance and has followed the decision of Hon. Apex Court in the case of TRF Ltd. reported at [2010 (2) TMI 211 - SUPREME COURT ] where it was held that after the amendment of Section 36(2) effective from 01.04.1989 by Finance Act, 1987, once the Assessee has written of the debts in the books, it is not necessary to prove that the debt has become bad for the purpose of allowing claim of bad debts. - Decided in favour of assessee
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