https://www.taxtmi.com/caselaws?id=463603 A co-operative society's disallowed provisions for bad and doubtful debts and service tax were treated as not forming part of the expenditure of the business activity. On that basis, the Tribunal held that the corresponding amount formed part of business profits eligible for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. CBDT Circular No. 37/2016 dated 02.11.2016 was applied to the facts, and the assessee was found entitled to the deduction on the amount of the disallowed provisions. en-us Thu, 20 Jul 2023 00:00:00 +0530 Mon, 08 Sep 2025 18:59:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463603 A co-operative society's disallowed provisions for bad and doubtful debts and service tax were treated as not forming part of the expenditure of the business activity. On that basis, the Tribunal held that the corresponding amount formed part of business profits eligible for deduction under section 80P(2)(a)(i) of the Income-tax Act, 1961. CBDT Circular No. 37/2016 dated 02.11.2016 was applied to the facts, and the assessee was found entitled to the deduction on the amount of the disallowed provisions. Case-Laws Income Tax Thu, 20 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463603