https://www.taxtmi.com/caselaws?id=769441 A private discretionary trust taxed at the maximum marginal rate was not automatically liable to surcharge where its total income remained below the surcharge threshold prescribed in the relevant Finance Act. The applicable scheme requires income-tax to be computed under the slab structure in that Act and surcharge to be imposed only in accordance with the surcharge provisions contained in the same enactment. Reading surcharge as mandatory merely because the trust is taxed at the maximum marginal rate would distort the statutory structure and render the slab-wise surcharge regime redundant. On that basis, no surcharge was payable and the levy was held unsustainable. en-us Tue, 22 Apr 2025 00:00:00 +0530 Mon, 12 Jan 2026 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769441 A private discretionary trust taxed at the maximum marginal rate was not automatically liable to surcharge where its total income remained below the surcharge threshold prescribed in the relevant Finance Act. The applicable scheme requires income-tax to be computed under the slab structure in that Act and surcharge to be imposed only in accordance with the surcharge provisions contained in the same enactment. Reading surcharge as mandatory merely because the trust is taxed at the maximum marginal rate would distort the statutory structure and render the slab-wise surcharge regime redundant. On that basis, no surcharge was payable and the levy was held unsustainable. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769441