Deductibility under section 36: amendments permit ICDS-based irrecoverable debt write-offs and sugarcane purchase deduction for cooperatives. The Finance Act amends section 36 to (i) omit the phrase limiting a clause to 'for extension of existing business or profession', (ii) add a proviso to allow deduction for debts taken into account under ICDS without account entry when they become irrecoverable and deem them written off in the accounts, and (iii) insert a clause permitting cooperative sugar manufacturers to deduct expenditure for purchase of sugarcane at prices equal to or below government fixed or approved levels.