Supreme Court of India · 2020-09-11
NATIONAL CO-OPERATIVE DEVELOPMENT CORPORATION vs COMMISSIONER OF INCOME TAX-V, DELHI
- Citation / case number
- SC 2007/8001
- Court
- Supreme Court of India
- Petitioner
- NATIONAL CO-OPERATIVE DEVELOPMENT CORPORATION
- Respondent
- COMMISSIONER OF INCOME TAX-V, DELHI
- Author
- HON'BLE MR. JUSTICE SANJAY KISHAN KAUL
- Bench
- HON'BLE MR. JUSTICE SANJAY KISHAN KAUL, HON'BLE MR. JUSTICE ANIRUDDHA BOSE, HON'BLE MR. JUSTICE KRISHNA MURARI
Judgment text excerpt
The Supreme Court addressed the taxation status of the National Co-operative Development Corporation under the Income Tax Act. The court examined the nature of the Corporation's activities and its funding sources, determining that the Corporation's income is not taxable as it operates under the NCDC Act for public welfare purposes. The appeal was allowed, affirming the non-taxable status of the Corporation's income.