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Supreme Court Clarifies Section 36(1)(viii): ‘Derived From’ Means First-Degree Nexus, Rejects NCDC’s Deduction Claim
Court News

Supreme Court Clarifies Section 36(1)(viii): ‘Derived From’ Means First-Degree Nexus, Rejects NCDC’s Deduction Claim

The Supreme Court has ruled that “derived from” under Section 36(1)(viii) requires a direct first-degree nexus with long-term finance. Dividend, deposit interest, and service inco…

Supreme Court Judgment Income Tax Act Section 36(1)(viii) Tax Deduction Case NCDC Case Financial Institutions Tax Dividend Income Tax Interest Income Tax Tax Incentives India CourtKutchehry Latest Supreme Court Ruling Tax Law News
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Supreme Court Clarifies Section 36(1)(viii): No Deduction for Bank Deposit Interest
Court News

Supreme Court Clarifies Section 36(1)(viii): No Deduction for Bank Deposit Interest

The Supreme Court clarifies that interest from bank deposits, dividends, or service charges is not eligible for deduction under Section 36(1)(viii) of the Income-tax Act. Only inc…

Supreme Court Judgment Income Tax Act 1961 Section 36(1)(viii) Tax Deduction Long Term Finance NCDC Case Financial Institutions Statutory Corporations Bank Deposit Interest Dividend Income Tax Litigation Apex Court Ruling Direct Tax News Cour
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