https://www.taxtmi.com/caselaws?id=783269 SC dismissed the assessee-corporation's appeal, holding it not entitled to deduction under Section 36(1)(viii) in respect of dividend income on shares, interest on short-term bank deposits, and service charges for monitoring Government sugar fund loans. Interpreting "derived from" narrowly, SC held that the deduction is confined to profits directly arising from the business of providing long-term finance, as statutorily defined, and not from ancillary or incidental business activities. Dividend on redeemable preference shares, interest from parking surplus funds, and agency service charges were found to lack the requisite first-degree nexus with long-term lending. The assessee's broader "integrated business" theory was expressly rejected. en-us Wed, 10 Dec 2025 00:00:00 +0530 Thu, 11 Dec 2025 13:07:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783269 SC dismissed the assessee-corporation's appeal, holding it not entitled to deduction under Section 36(1)(viii) in respect of dividend income on shares, interest on short-term bank deposits, and service charges for monitoring Government sugar fund loans. Interpreting "derived from" narrowly, SC held that the deduction is confined to profits directly arising from the business of providing long-term finance, as statutorily defined, and not from ancillary or incidental business activities. Dividend on redeemable preference shares, interest from parking surplus funds, and agency service charges were found to lack the requisite first-degree nexus with long-term lending. The assessee's broader "integrated business" theory was expressly rejected. Case-Laws Income Tax Wed, 10 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783269