https://www.taxtmi.com/caselaws?id=774101 For a co-operative society eligible for deduction under section 80P(2)(a)(i), a disallowance of bad debts or interest waiver that is added back to business income also forms part of the profits on which the deduction is computed. The operative principle is that an addition increasing the society's taxable business profits correspondingly enlarges the base for the statutory deduction. On that reasoning, the disallowed amount was to be included in the income eligible for deduction under section 80P(2)(a)(i), and the issue was decided in favour of the assessee. en-us Mon, 26 May 2025 00:00:00 +0530 Tue, 01 Jul 2025 11:37:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774101 For a co-operative society eligible for deduction under section 80P(2)(a)(i), a disallowance of bad debts or interest waiver that is added back to business income also forms part of the profits on which the deduction is computed. The operative principle is that an addition increasing the society's taxable business profits correspondingly enlarges the base for the statutory deduction. On that reasoning, the disallowed amount was to be included in the income eligible for deduction under section 80P(2)(a)(i), and the issue was decided in favour of the assessee. Case-Laws Income Tax Mon, 26 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774101