NATIONAL COOPERATIVE DEVELOPMENT CORPORATION vs ASSISTANT COMMISSIONER OF INCOME TAX — C.A. No. 4612/2014

Case under Direct Taxation : Income Tax Act, 1961, Wealth Tax Act, 1957, Gift Tax Act, 1958, Excess Profits Tax Act, 1940, Business Profit Tax Act, 1947 [Other Than Matters Covered by Categories 1602-1605] Section XIV-A. Status: Disposed.

Disposed

CNR: SCIN010071932012

Filing Date

28-Feb-2012

Registration No

C.A. No. 4612/2014

Diary Number

7193/2012

Order Date

10-Dec-2025

Document Type

Judgement - of Main Case

Neutral Citation

2025 INSC 1414

Disposal Type

Dismissed

Last updated 05-Jul-2026

Acts & Sections

Direct Taxation : Income Tax Act, 1961, Wealth Tax Act, 1957, Gift Tax Act, 1958, Excess Profits Tax Act, 1940, Business Profit Tax Act, 1947 [other than matters covered by categories 1602-1605] Section XIV-A

Petitioner(s)

  1. 1.NATIONAL COOPERATIVE DEVELOPMENT CORPORATION

    Adv. PRADEEP KUMAR BAKSHI (Dead / Retired / Elevated) CHRISTI JAIN[P-1]

Respondent(s)

  1. 1.ASSISTANT COMMISSIONER OF INCOME TAX

    Adv. MADHULIKA UPADHYAY[R-1]

Case History

  1. Case disposedDisposed

  2. 10-Dec-2025

    Judgement - of Main CaseView PDF

  3. 10-Dec-2025

    ROP - of Main CaseView PDF

  4. 10-Dec-2025

    Fixed Date by Court

    Hon'ble Mr. Justice Pamidighantam Sri Narasimha and Hon'ble Mr. Justice Atul S. Chandurkar

  5. 24-Jul-2025

    ROP - of Main CaseView PDF

  6. 24-Jul-2025

    Fixed Date by Court

    Hon'ble Mr. Justice Pamidighantam Sri Narasimha and Hon'ble Mr. Justice Atul S. Chandurkar

  7. 23-Jul-2025

    ROP - of Main CaseView PDF

  8. 23-Jul-2025

    Fixed Date by Court

    Hon'ble Mr. Justice Pamidighantam Sri Narasimha and Hon'ble Mr. Justice Atul S. Chandurkar

  9. 11-Jun-2025

    ROP - of Main CaseView PDF

  10. 11-Jun-2025

    Ordinary

    Hon'ble Mr. Justice S.V.N. Bhatti and Hon'ble Mr. Justice Prasanna B. Varale

  11. 15-Sep-2017

    ROP - of Main CaseView PDF

  12. 15-Sep-2017

    Fixed Date by Court

    Registrar (A-J)

  13. 18-Aug-2017

    ROP - of Main CaseView PDF

  14. 18-Aug-2017

    First hearing

    Initial hearing scheduled

  15. 15-Apr-2014

    ROP - of Main CaseView PDF

  16. 19-Feb-2013

    ROPView PDF

  17. 13-Aug-2012

    ROPView PDF

  18. 04-Apr-2012

    ROP - of Main CaseView PDF

  19. 28-Feb-2012

    Case filed

    Registration No. C.A. No. 4612/2014

  20. [ 2025 INSC 1414 ]

    Judgement - of Main CaseView PDF

View Full Judgment
casestatus.in Summary

Summary The Supreme Court dismissed NCDC's appeals, holding that dividend income on preference shares, interest on short-term bank deposits, and service charges on Sugar Development Fund loans do not qualify for the 40% deduction under Section 36(1)(viii) of the Income Tax Act, 1961. The Court interpreted "profits derived from the business of providing long-term finance" narrowly, requiring a direct, first-degree nexus with long-term lending activity, thereby excluding ancillary income streams regardless of operational integration. This case analysis is maintained by casestatus.in based on publicly available court records.

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