Charitable Trusts Under MMR Not Liable to Flat 37% Surcharge

Rahulkumar Bajaj Charitable Trust Vs DCIT (ITAT Mumbai) MMR ≠ Highest Surcharge: ITAT Mumbai Holds Charitable Trust Taxable at 30% with Slab-Based Surcharge, Not Flat 37% ITAT Mumbai (D Bench) in Rahulkumar Bajaj Charitable Trust vs DCIT (ITA Nos. 1768 to 1770/Mum/2025; AYs 2021-22 to 2023-24; order dated 23.12.2025) has partly allowed the appeals, holding that while tax may be computed at Maximum Marginal Rate (MMR), surcharge cannot be levied mechanically at the highest rate of 37%. The Assessee, a charitable trust without registration u/s 12A, was assessed as an AOP. While processing retu...