https://www.taxtmi.com/caselaws?id=462652 Surcharge under the First Schedule to the Finance Act, 2020 is attracted only where total income exceeds the prescribed threshold of Rs. 50 lakh. As the assessee's returned income was accepted below that limit and the return was processed under section 143(1), the surcharge levy was not permissible. The surcharge addition was therefore held unsustainable and deleted in favour of the assessee. en-us Tue, 09 Jul 2024 00:00:00 +0530 Mon, 07 Jul 2025 18:29:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462652 Surcharge under the First Schedule to the Finance Act, 2020 is attracted only where total income exceeds the prescribed threshold of Rs. 50 lakh. As the assessee's returned income was accepted below that limit and the return was processed under section 143(1), the surcharge levy was not permissible. The surcharge addition was therefore held unsustainable and deleted in favour of the assessee. Case-Laws Income Tax Tue, 09 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462652