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2015 (12) TMI 757 - AT - Income TaxDisallowance of expenditure in respect of bad debts written off during the year - Held that:- Assessee has placed reliance on the judgement of the Hon’ble Apex Court in the case of TRF Limited vs. CIT reported at (2010 (2) TMI 211 - SUPREME COURT) in support of his contention that the claim of the assessee with regard to bad debt is allowable. We do not see any force in the contention of the ld.counsel for the assessee as in the present case the AO has demonstrated that the assessee has continued business transactions with the concerned party. It is also not disputed that the assessee has received payments from the concerned party. Moreover, assessee through its Authorized Representative agreed to the disallowance of bad debt and addition of the same. The judgement of Hon’ble Apex Court in the case of TRF Limited vs. CIT(supra) relied upon by the assessee will not help to the assessee. Therefore, ground raised in the Assessee’s appeal is rejected. - Decided in favour of assessee.
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