https://www.taxtmi.com/highlights?id=93859 ITAT allowed the appeal and directed the AO to compute surcharge at 15% on tax (not on tax-plus-surcharge) applicable to the assessee's income, rejecting the AO's imposition of 37%; the Tribunal held that "slab" references income, MMR refers to the highest income slab under the Finance Act, and surcharge rates derive from the Finance Act rather than sections 164/167B/2(29C) alone. The assessee, an AOP with total income exceeding Rs.5 crore (including dividend income) under the new tax regime, satisfies Finance Act conditions for 15% surcharge; consequential relief was ordered in favour of the assessee. en-us Tue, 04 Nov 2025 08:03:33 +0530 Tue, 04 Nov 2025 08:03:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=93859 ITAT allowed the appeal and directed the AO to compute surcharge at 15% on tax (not on tax-plus-surcharge) applicable to the assessee's income, rejecting the AO's imposition of 37%; the Tribunal held that "slab" references income, MMR refers to the highest income slab under the Finance Act, and surcharge rates derive from the Finance Act rather than sections 164/167B/2(29C) alone. The assessee, an AOP with total income exceeding Rs.5 crore (including dividend income) under the new tax regime, satisfies Finance Act conditions for 15% surcharge; consequential relief was ordered in favour of the assessee. Highlights Income Tax Tue, 04 Nov 2025 08:03:33 +0530 https://www.taxtmi.com/highlights?id=93859