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of <h1>Consumer co-op store rebates as deferred discounts allowed as business deductions for income calculation, per Board decision.</h1> Rebate or bonus provided by consumer co-operative stores to their members, which is considered a deferred discount on purchases made within a year, should be allowed as a business deduction when calculating the store's business income. This decision was made by the Board after consulting with the Department of Community Development and Co-operation, following an instance where an Income-tax Officer had disallowed such a deduction.
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