The acction hook stop working if i move it from plugin file to theme’s functions.php file

Think about what you’ve written:

The acction hook stop working if i move it from plugin file to theme’s
functions.php file

And:

bp_includes is buddypress action and hooked on plugins_loaded

The problem is that the code stops working when you move the code to functions.php, which is a theme file. The theme loads after plugins load and hence after plugins_loaded. Take a look at the hook sequence for a typical page load: https://codex.wordpress.org/Plugin_API/Action_Reference#Actions_Run_During_a_Typical_Request

In fact, the first hook available to a theme is after_setup_theme.

It sounds like your code has to be in a plugin or mu-plugin.