2025 (4) TMI 1478

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....ent : Gautam Patra, Addl, CIT(DR). ORDER PER RAKESH MISHRA, ACCOUNTANT MEMBER: Both these appeals filed by the assessee are against separate orders of the Addl/JCIT(A)-Prayagraj [hereinafter referred to as Ld. 'CIT(A)'] passed u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') for AY 2022-23 & AY 2023-24 dated 23.10.2024 & 14.11.2024, which have been passed....

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....the Assessing Officer, NFAC on interest u/s. 234B and 234C of the Income Tax Act. 5. That the appellate craves leave to add, modify or amend the ground of appeal and to adduce additional evidence in support of ground of appeal at the time of hearing of the case." AY 2023-24 "1. The Id. CIT(A), NFAC erred in law and on facts to affirm the order of the Assessing Officer, N....

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....om Form No. 35 are that the assessee is a private specific family Trust. Some of the beneficiaries had income exceeding the maximum amount which was not chargeable to tax and the tax rate for the assessee was 30%. The assessee had total income of Rs. 24,78,407/- including dividend income, interest income from the bank and interest income from fixed deposit. The CPC calculated the surcharge at Rs. ....

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....ot exceed Rs. 1 Crore, therefore, surcharge @ 10% only should have been applied instead of 37% applied by the Ld. CIT(A). Further, if the assessee has capital gains, therefore, even otherwise the surcharge was to be limited to 15%. Since the beneficiaries are known and the shares are mentioned in the trust deed, therefore, the provisions of section 167B or section 164(1) of the Act are not applica....