https://www.taxtmi.com/caselaws?id=780114 For a private discretionary trust taxed at the maximum marginal rate, surcharge must be determined under the slab-based surcharge provisions of the relevant Finance Act rather than imposed automatically at the highest rate. The definition of maximum marginal rate includes surcharge, if any, applicable to the highest slab, but the surcharge schedule itself applies graded rates with a threshold below which no surcharge is payable. On a harmonious reading, the trust could not be subjected to the highest surcharge rate merely because of its status, and relief followed in the refund computation. en-us Wed, 15 Oct 2025 00:00:00 +0530 Sat, 18 Oct 2025 09:08:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780114 For a private discretionary trust taxed at the maximum marginal rate, surcharge must be determined under the slab-based surcharge provisions of the relevant Finance Act rather than imposed automatically at the highest rate. The definition of maximum marginal rate includes surcharge, if any, applicable to the highest slab, but the surcharge schedule itself applies graded rates with a threshold below which no surcharge is payable. On a harmonious reading, the trust could not be subjected to the highest surcharge rate merely because of its status, and relief followed in the refund computation. Case-Laws Income Tax Wed, 15 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780114