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Supreme Court ka faisla: 40 per cent deduction sirf long-term finance

Supreme Court ka faisla: 40 per cent deduction sirf long-term finance

Supreme Court ne kaha hai ki 40 per cent tax deduction sirf un profits par lagega jo long-term finance se directly derived hain. NCDC ki appeal ko reject karte hue, bench ne bataya ki dividends aur short-term deposits sirf business income hain, aur ye deduction ka maidan nahi hai. Bas, samjho ki law sirf long-term credit ko hi khush karta hai!

Quick rundown

  1. Supreme Court denies tax deduction for NCDC's non-core income.
  2. Only profits from long-term finance are eligible for tax deductions.
  3. Court emphasizes strict interpretation of tax laws.
  4. NCDC's claim failed due to lack of direct connection with long-term finance.
  5. Legislative intent focuses on incentivizing long-term credit provision.

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