Deduction Denied for Non-Lending Income: Supreme Court Restricts Section 36(1)(viii) to First-Degree Lending Profits

National Co-operative Development Corporation Vs ACIT (Supreme Court of India)

Only First-Degree Lending Profits Get 36(1)(viii) Deduction: SC Rejects NCDC’s Claims on Dividend, Bank Interest & SDF Service Charges

Derived From ≠ Attributable To: SC Denies 36(1)(viii) Claim on Non-Lending Income

Ring-Fenced Deduction: SC Says No Tax Break for Second-Degree Income Streams

 Issue Before Supreme Court

• Whether NCDC is entitled to deduction u/s 36(1)(viii) on:
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