Higher Surcharge on Income Below ₹50 Lakh Struck Down by ITAT Mumbai

N K Infra JV Vs ADIT, CPC, Bengaluru / ITO (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai bench, has ruled in favor of a partnership firm, N K Infra JV, in its dispute against the Additional Director of Income Tax (ADIT), Centralized Processing Centre (CPC), Bengaluru. The case, which centered on the incorrect application of a surcharge on the firm’s income, was decided on July 23, 2025. The core of the dispute arose after the assessee, a partnership firm, filed its income tax return for the assessment year 2023-24, declaring a total taxable income of ₹10,02,420. Follow...