2024 (5) TMI 1545

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....Prakash Jotwani, A.R. For the Revenue : Shri C.T. Mathews, Sr. DR. ORDER PER : NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER : This appeal has been preferred by the assessee against the order dated 06.11.2023, impugned herein, passed by the Ld. Commissioner of Income Tax (Appeals) (in short Ld. Commissioner) under section 250 of the Income Tax Act, 1961 (in short 'the Act') for the A.Y. 202....

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....order, the amount of Rs. 1,73,278/- on account of surcharge has also been levied which was subsequently disputed by the assessee before the Ld. Commissioner by claiming that as per section 2(29C) of the Act, where the total income earned is less than Rs. 50 lakhs then no surcharge is liable to be levied. It is enumerated in the 1st Schedule of the Act introduced vide Finance Act, 2021, t....

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....als, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act,- (a) having a total income (including the income by way of dividend or income under the provisions of section 111A and section 112A of the Income-tax Act) exceeding fifty lakh rupees but not exceeding one crore rupees, at the rate of ten....

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....irty-seven per cent of such income-tax; and (e) having a total income (including the income by way of dividend or income under the provisions of section 111A and section 112A of the Income-tax Act) exceeding two crore rupees, but is not covered under clauses (c) and (d), shall be applicable at the rate of fifteen per cent of such income-tax: 4. We observe that though the Ld. Commission....