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TMI Blog2025 (2) TMI 1168X X X X Extracts X X X X X X X X Extracts X X X X ..... . 1,16,126/- in the intimation u/s. 143(1) issued by CPC, Bengaluru. 3. The assessee is an AOP (Trust) and has filed its return of income of Rs. 10,46,180/-. The CPC, Bengaluru vide intimation u/s. 143(1) of the Act has computed tax at maximum marginal rate and further levied surcharge of Rs. 1,16,126/-. Aggrieved, the assessee has filed appeal against the levy of surcharge on the ground that the A.M: income is below the prescribed limit and therefore, surcharge was not leviable. However, the Ld. CIT (A) relying on the Section 2(29)(C) of the Act has held that surcharge is leviable on the AOP as the tax has been charged at the maximum marginal rate. 4. The Ld. Authorized Representative (AR) of the assessee before us has arg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dividual, Hindu Undivided Family or Association of Person or Body of individuals having a total income, exceeding Rs. 50 lacs of such income tax. The relevant extract of the same is cited herein under: Surcharge on income-tax The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 or section 112A or the provision of section 115BAC of the Income-tax Act, shall be increased by a surcharge for the purposes of the Union, calculated, 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 111A and section 112A of the Income-tax Act, the rate of surcharge on the amount of income-tax computed in respect of that part of income shall not exceed fifteen per cent.: Provided further 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 i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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