TaxTMI 
TaxTMI 
2025 (7) TMI 868
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....nt orders. 2. At the outset, Ld. Counsel for the assessee submitted that the common issue raised in both these appeals is that the CPC erred in levying surcharge on the income of the assessee which was below Rs. 50.00 lakh for both the impugned years. In support placed reliance on the decision of Hon'ble Special Bench in the case of Araadhaya Jain Trust vs. ITO in ITA No. 4272/ Mum/2024 order dated 09.04.2025 where it has been held that surcharge is leviable based on the slab rate provided in First schedule under the heading "surcharge on income tax" appearing in Paragraph A, Part 1, applicable to the relevant assessment year. It was therefore contended that surcharge is leviable as per slab rate and the surcharge is leviable only if....
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.... Rates of income-tax (1) where the total income does not exceed Rs. 2,50,000 Nil; (2) where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000 5 per cent of the amount by which the total income exceeds Rs. 2,50,000; (3) where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 Rs. 12,500 plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000; (4) where the total income exceeds Rs. 10,00,000 Rs. 1,12,500 plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000. (II) In the case of every individual, being a resident in India, who is of the age of sixty years or more but less than eighty years at any time during the....
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.... in the case of every individual or Hindu undivided family or association of persons or body of individuals, 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) clause (31) of section 2 of the Income-tax Act,- having a total income (including the income by way of dividend or income under the provisions of section 111A, section 112 and section 112A of the Income-tax Act) exceeding fifty lakh rupees but not exceeding one crore rupees, at the rate of ten per cent of such income-tax; (b) having a total income (including the income by way of dividend or income under the provisions of section 111A, section 112 and section 112A o....
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.... fifteen per cent: Provided also that in the case of persons mentioned above having total income exceeding,- (a) fifty lakh rupees but not exceeding one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of fifty lakh rupees by more than the amount of income that exceeds fifty lakh rupees; (b) one crore rupees but does not exceed two crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax and surcharge on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees; (c) two crore rupe....