Tax Surcharge Calculation for Discretionary Trusts: Lower 15% Rate Upheld, Challenging Uniform Maximum Marginal Rate Application

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....ITAT adjudicated a tax surcharge dispute for a private discretionary trust, determining the applicable surcharge rate. The tribunal ruled that surcharge computation must reference specific slab rates prescribed in the Finance Act, rather than applying the maximum marginal rate (MMR) uniformly. Relying on precedent in Aradhya Jain Trust, the tribunal found the surcharge should be calculated at the lower applicable rate of 15% instead of the highest 37% rate. Consequently, the assessee's appeal was allowed, establishing a favorable interpretation of tax surcharge calculation for similar discretionary trust structures.....