https://www.taxtmi.com/caselaws?id=771130 The ITAT Pune ruled in favor of the assessee regarding surcharge calculation on dividend income. The assessee had correctly paid surcharge at 10% while the CPC erroneously calculated it at 37%. The tribunal held that surcharge on dividend income cannot exceed 15% and must be levied based on First Schedule slab rates. Since the dividend income fell between Rs. 50 lakh to Rs. 1 crore, the applicable surcharge rate was 10%. The CIT(A)'s finding was reversed and the assessee's appeal was allowed. en-us Wed, 14 May 2025 00:00:00 +0530 Wed, 21 May 2025 08:29:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771130 The ITAT Pune ruled in favor of the assessee regarding surcharge calculation on dividend income. The assessee had correctly paid surcharge at 10% while the CPC erroneously calculated it at 37%. The tribunal held that surcharge on dividend income cannot exceed 15% and must be levied based on First Schedule slab rates. Since the dividend income fell between Rs. 50 lakh to Rs. 1 crore, the applicable surcharge rate was 10%. The CIT(A)'s finding was reversed and the assessee's appeal was allowed. Case-Laws Income Tax Wed, 14 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771130