https://www.taxtmi.com/caselaws?id=458151 Surcharge was not leviable on income-tax computed at the maximum marginal rate where the assessee's total income was below Rs. 50 lakhs, because the surcharge provision applies only when the prescribed threshold is crossed. The definition of maximum marginal rate under section 2(29C) links the rate to the highest slab, including surcharge if any, but does not authorise surcharge irrespective of slab. Following the co-ordinate Bench view in Tayal Sales Corporation, the surcharge added in processing under section 143(1) was unsustainable and had to be deleted. en-us Wed, 19 Jun 2024 00:00:00 +0530 Thu, 10 Oct 2024 20:50:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458151 Surcharge was not leviable on income-tax computed at the maximum marginal rate where the assessee's total income was below Rs. 50 lakhs, because the surcharge provision applies only when the prescribed threshold is crossed. The definition of maximum marginal rate under section 2(29C) links the rate to the highest slab, including surcharge if any, but does not authorise surcharge irrespective of slab. Following the co-ordinate Bench view in Tayal Sales Corporation, the surcharge added in processing under section 143(1) was unsustainable and had to be deleted. Case-Laws Income Tax Wed, 19 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458151