https://www.taxtmi.com/caselaws?id=461534 The SC/Tribunal examined the levy of a 37% surcharge on income tax when the assessee's income was below Rs. 50 lakhs. Based on the Finance Act, 2021, the Tribunal concluded that surcharge is not applicable for incomes under the specified threshold. The appeal was allowed, and the surcharge was deleted, establishing a clear interpretation of tax surcharge provisions. en-us Fri, 26 Jul 2024 00:00:00 +0530 Fri, 11 Apr 2025 18:56:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461534 The SC/Tribunal examined the levy of a 37% surcharge on income tax when the assessee's income was below Rs. 50 lakhs. Based on the Finance Act, 2021, the Tribunal concluded that surcharge is not applicable for incomes under the specified threshold. The appeal was allowed, and the surcharge was deleted, establishing a clear interpretation of tax surcharge provisions. Case-Laws Income Tax Fri, 26 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461534