NATIONAL COOPERATIVE DEV. CORP.THR. ITS MANAGING DIRECTOR vs ASSTT. COMMISSIONER OF INCOME TAX — C.A. No. 4617/2014

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: SCIN010073592012

Filing Date

29-Feb-2012

Registration No

C.A. No. 4617/2014

Diary Number

7359/2012

Order Date

10-Dec-2025

Document Type

Judgement - of Main Case

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 DEV. CORP.THR. ITS MANAGING DIRECTOR

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

Respondent(s)

  1. 1.ASSTT. COMMISSIONER OF INCOME TAX

    Adv. MADHULIKA UPADHYAY[R-1]

Case History

  1. Case disposedDisposed

  2. 10-Dec-2025

    Fixed Date by Court

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

  3. 24-Jul-2025

    Fixed Date by Court

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

  4. 23-Jul-2025

    Fixed Date by Court

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

  5. 11-Jun-2025

    First hearing

    Initial hearing scheduled

  6. 15-Apr-2014

    ROP - of Main CaseView PDF

  7. 19-Feb-2013

    ROPView PDF

  8. 13-Aug-2012

    ROPView PDF

  9. 04-Apr-2012

    ROP - of Main CaseView PDF

  10. 29-Feb-2012

    Case filed

    Registration No. C.A. No. 4617/2014

  11. [ 2025 INSC 1414 ]

    Judgement - of Main CaseView PDF

Common Record of Proceedings — heard with connected matters

Lead case: C.A. No. 4612/2014

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casestatus.in Summary

Summary of C.A. No. 004617/2014 (NCDC v. Assistant Commissioner of Income Tax) The Supreme Court dismissed NCDC's appeals, holding that dividend income on preference shares, interest on short-term bank deposits, and service charges for 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 direct nexus with core lending activities, and rejected claims treating diverse income streams as integrated business operations. This case analysis is maintained by casestatus.in based on publicly available court records.

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