https://www.taxtmi.com/caselaws?id=775771 The ITAT Mumbai held that the surcharge on the assessee's income must be determined according to the slab rates prescribed in the Finance Act for the relevant year, not at the Maximum Marginal Rate. Since the assessee's income exceeds Rs. 50 lakhs but does not exceed Rs. 1 crore, a 10% surcharge is applicable. The AO was directed to recompute the surcharge accordingly. en-us Wed, 04 Jun 2025 00:00:00 +0530 Thu, 31 Jul 2025 08:17:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775771 The ITAT Mumbai held that the surcharge on the assessee's income must be determined according to the slab rates prescribed in the Finance Act for the relevant year, not at the Maximum Marginal Rate. Since the assessee's income exceeds Rs. 50 lakhs but does not exceed Rs. 1 crore, a 10% surcharge is applicable. The AO was directed to recompute the surcharge accordingly. Case-Laws Income Tax Wed, 04 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775771