https://www.taxtmi.com/caselaws?id=769564 SC partially allowed the appeals challenging tax assessment. The Tribunal ruled that surcharge should be 10% for AY 2022-23 (income below Rs. 1 crore) and NIL for AY 2023-24 (income below Rs. 50,000). The court rejected the higher surcharge rate applied by tax authorities, finding it inconsistent with statutory provisions. Interest under sections 234B and 234C was directed to be recalculated based on the corrected tax liability. en-us Fri, 25 Apr 2025 00:00:00 +0530 Mon, 28 Apr 2025 08:35:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769564 SC partially allowed the appeals challenging tax assessment. The Tribunal ruled that surcharge should be 10% for AY 2022-23 (income below Rs. 1 crore) and NIL for AY 2023-24 (income below Rs. 50,000). The court rejected the higher surcharge rate applied by tax authorities, finding it inconsistent with statutory provisions. Interest under sections 234B and 234C was directed to be recalculated based on the corrected tax liability. Case-Laws Income Tax Fri, 25 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769564