Surcharge at 37% Cannot Be Applied on Income Below ₹50 Lakh of private discretionary trusts

Chanda Bharech Beneficiary Trust Vs ITO (ITAT Kolkata) The case concerns a batch of three appeals filed by the assessee, a private discretionary trust, against orders passed under Section 250 of the Income Tax Act, 1961. The primary issue across all appeals was the applicability of surcharge at 37% while computing tax at the maximum marginal rate (MMR) on the trust’s income. Since the facts and issues were identical, the tribunal addressed the matter through a consolidated order, focusing first on ITA No. 3060/Kol/2025. The assessee had declared a total income of ₹4,56,900 and computed tax...