ITAT quashes CIT(A) order after CPC rectifies surcharge on dividend from 37% to 15%

Srijan Family Trust Vs ITO (ITAT Delhi) The appeal before the Income Tax Appellate Tribunal (ITAT) in Delhi, filed by Srijan Family Trust, was a challenge to an order by the Commissioner of Income Tax (Appeals) (CIT(A)) that upheld an incorrect surcharge levy on the trust’s dividend income for the Assessment Year 2023-24. Factual Background The case began when the trust filed its income tax return, declaring an income of ₹1,30,13,620. During the processing of the return under Section 143(1) of the Income Tax Act, 1961, the Centralised Processing Centre (CPC) computed the tax liability ...