https://www.taxtmi.com/caselaws?id=461566 ITAT Mumbai held that surcharge at 37% rate applies to income below Rs. 5 crores under Finance Act 2021 where Maximum Marginal Rate (MMR) provisions are applicable. Following precedent in Anant Bajaj Trust case, the tribunal analyzed relevant legal provisions and factual aspects, ultimately affirming the higher surcharge rate against the assessee's challenge to the levy. en-us Wed, 30 Oct 2024 00:00:00 +0530 Sun, 13 Apr 2025 02:20:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461566 ITAT Mumbai held that surcharge at 37% rate applies to income below Rs. 5 crores under Finance Act 2021 where Maximum Marginal Rate (MMR) provisions are applicable. Following precedent in Anant Bajaj Trust case, the tribunal analyzed relevant legal provisions and factual aspects, ultimately affirming the higher surcharge rate against the assessee's challenge to the levy. Case-Laws Income Tax Wed, 30 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461566