Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
ITAT allowed the appeal of the assessee and set aside the CIT(A)'s addition, holding that for a private discretionary trust taxed at the maximum marginal rate (MMR) the applicable surcharge must be computed by reference to the slab rates prescribed under the Finance Act's schedule for "surcharge on income tax" for the relevant assessment year rather than applying the highest surcharge rate automatically. Consequently, where income falls below the statutory thresholds for higher surcharge slabs, the lower prescribed surcharge rate applies and the impugned surcharge addition is deleted. The decision favors the assessee and restores computation of tax and surcharge in accordance with prescribed slab-based rates.
ITAT allowed the appeal of the assessee and set aside the CIT(A)'s addition, holding that for a private discretionary trust taxed at the maximum marginal rate (MMR) the applicable surcharge must be computed by reference to the slab rates prescribed under the Finance Act's schedule for "surcharge on income tax" for the relevant assessment year rather than applying the highest surcharge rate automatically. Consequently, where income falls below the statutory thresholds for higher surcharge slabs, the lower prescribed surcharge rate applies and the impugned surcharge addition is deleted. The decision favors the assessee and restores computation of tax and surcharge in accordance with prescribed slab-based rates.
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