The Supreme Court of India has dismissed a batch of appeals filed by the National Cooperative Development Corporation (NCDC), holding that the corporation is not entitled to deductions under Section 36(1)(viii) of the Income Tax Act, 1961, in respect of dividend income, interest on short-term bank deposits, and service charges for monitoring Sugar Development Fund
‘Derived From’ in Section 36(1)(viii) Requires First-Degree Nexus; Supreme Court Denies NCDC Deduction on Ancillary Income
