Levy of Surcharge Unwarranted as Income Did Not Exceed ₹50 Lakhs: ITAT Mumbai

Lintas Employees Professional Development Trust Vs Income Tax Department (ITAT Mumbai) In the case of Lintas Employees Professional Development Trust vs Income Tax Department, the Income Tax Appellate Tribunal (ITAT) Mumbai ruled in favor of the assessee concerning the imposition of surcharge on its assessed income. The Trust, formed for the benefit of employees of the Lintas Group, had filed its income tax return for the assessment year 2021–22 declaring a total income of ₹14,33,440. However, during the processing of the return under Section 143(1) of the Income Tax Act, the Centralized P...