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Employee Welfare Trust Not Liable to Highest Surcharge Rate: ITAT Mumbai
Case Law Details
- Case Name
- Deloitte Employees Welfare Trust Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2022-23
- Courts
- All ITAT, ITAT Mumbai
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Deloitte Employees Welfare Trust Vs ITO (ITAT Mumbai)
ITAT Mumbai: Employee Welfare Trust Taxable at Normal AOP Rates—MMR & 37% Surcharge Deleted
The Mumbai ITAT (SMC Bench) allowed the appeal of Deloitte Employees Welfare Trust for AY 2022-23 and set aside the levy of tax at Maximum Marginal Rate (MMR) with 37% surcharge made through CPC intimation under section 143(1).
The Tribunal held that:
The trust is created bona fide for the exclusive benefit of employees, and trustees receive income as representative assessees for employees’ welfare.
Such trusts fall within clause (iv) of ...
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