2025 (5) TMI 122

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he case, the Appellant craves leave to prefer an appeal against the order under section 250 of the Act dated 15 January 2025, Issued by the Additional Joint Commissioner of Income-Tax (Appeals), Udaipur [the learned CIT(A)] pursuant to the appeal against Intimation order under section 143(1) of the Act dated 18 December 2023 on the following grounds, each of which is without prejudice to and independent of the others: On the facts and in the circumstances of the case and in law, the learned CIT(A): General 1. erred in upholding the impugned intimation order under section 143(1) of the Act dated 18 December 2023, Invalidity of the intimation order under section 143(1) of the Act: 2. falled to appreciate that it is judicially settle .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Levy of interest under section 234C of the Act: 8. erred in upholding the levy of interest under section 234C of the Act amounting to Rs. 4,983/- as against Rs. 2,949/- without appreciating that the interest under section 234C of the Act has to be computed on the returned income; The Appellant craves leave to add, alter, vary, omit, substitute or amend any or all of the above grounds of appeal, at any time before or at the time of the appeal, so as to enable the Hon'ble Income-tax Appellate Tribunal to decide this appeal according to law. 3. The only grievance of the assessee is that Ld. CIT(A) erred in affirming the action of the CPC levying surcharge of 37% on the tax calculated on the income of appellant trust at maximum margi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Finance Act under the heading Surcharge on Income Tax appearing in Para A, Para 1 first schedule applicable to the relevant assessment year. Respectfully following the ratio laid down by Hon'ble special bench (supra) we are inclined to hold that since the surcharge is leviable when the income of an assessee exceeds Rs. 50,00,000/- and the maximum rate of surcharge of 37% is leviable if income exceeds Rs. 5 crore and therefore as the income of the assessee is only Rs. 3,48,040/- CPC grossly erred in leving surcharge of 37% on the assessee. Therefore considering the income of the assessee no surcharge was leviable for the year under consideration on tax payable by the assessee. Effective grounds of appeal No. 2 & 3 raised by the assessee .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X