https://www.taxtmi.com/highlights?id=91083 The ITAT held that the surcharge on the assessee's income must be determined according to the slab rates prescribed under the Finance Act, rejecting the application of the Maximum Marginal Rate. Since the assessee's income exceeds Rs. 50 lakhs but does not exceed Rs. 1 crore, the applicable surcharge rate is 10%. The AO was directed to recompute the surcharge accordingly in line with the settled legal position and prescribed slab rates. en-us Thu, 31 Jul 2025 08:17:22 +0530 Thu, 31 Jul 2025 08:17:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=91083 The ITAT held that the surcharge on the assessee's income must be determined according to the slab rates prescribed under the Finance Act, rejecting the application of the Maximum Marginal Rate. Since the assessee's income exceeds Rs. 50 lakhs but does not exceed Rs. 1 crore, the applicable surcharge rate is 10%. The AO was directed to recompute the surcharge accordingly in line with the settled legal position and prescribed slab rates. Highlights Income Tax Thu, 31 Jul 2025 08:17:22 +0530 https://www.taxtmi.com/highlights?id=91083