https://www.taxtmi.com/caselaws?id=103991 Surcharge was not leviable on the income of a firm where total income fell below the threshold prescribed in the relevant Finance Act. Although a firm was taxable at the maximum marginal rate under section 167A, section 2(29C) brought surcharge within that expression only when surcharge was otherwise applicable to the highest income slab. Because the assessee-firm's total income did not exceed the statutory limit, the legal basis for surcharge was absent and deletion of the surcharge was justified. en-us Thu, 01 Feb 2001 00:00:00 +0530 Sat, 25 Feb 2012 12:33:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103991 Surcharge was not leviable on the income of a firm where total income fell below the threshold prescribed in the relevant Finance Act. Although a firm was taxable at the maximum marginal rate under section 167A, section 2(29C) brought surcharge within that expression only when surcharge was otherwise applicable to the highest income slab. Because the assessee-firm's total income did not exceed the statutory limit, the legal basis for surcharge was absent and deletion of the surcharge was justified. Case-Laws Income Tax Thu, 01 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103991