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“Section 2(290)”

Section References (mined)Section 2Section 2(290)5 judgments

BHAGIRATHI ENTERPRISE,VILE PARLE WEST MUMBAI vs. INCOME TAX OFFICER WARD 34(1)(1), BANDRA EAST MUMBAI

In the result, the appeal filed by the assessee for the AY

ITA 3130/MUM/2025[2023-24]Status: DisposedITAT Mumbai27 Jun 2025AY 2023-24

Bench: Shri Vikram Singh Yadav & Ms. Kavitha Rajagopal

For Appellant: Shri Anant N. Pai, CAFor Respondent: Shri Leyaqat Ali Aafaqui
Section 143Section 143(1)Section 154Section 167BSection 2

Income Tax Act, 1961, as the AOP's member shares were indeterminate, necessitating taxation at the MMR. The MMR, as defined under Section 2(290), includes a 37% surcharge as per the Finance Act, 2020, irrespective of the AOP's actual income. Judicial precedents from ITAT Bangalore and Mumbai affirm ... under the Income Tax Act, 1961 is discussed in the ensuing paras. 9.1 Maximum marginal rate (MMR) is defined as per provisions of Section 2(290) of the Income Tax Act, 1961 as under: "Maximum marginal rate" means the rate of income-tax (including surcharge on income

BHAGIRATHI ENTERPRISE,VILE PARLE WEST MUMBAI vs. INCOME TAX OFFICER, WARD 34(1)(1), MUMBAI BANDRA EAST

In the result, the appeal filed by the assessee for the AY

ITA 3129/MUM/2025[2022-23]Status: DisposedITAT Mumbai27 Jun 2025AY 2022-23

Bench: Shri Vikram Singh Yadav & Ms. Kavitha Rajagopal

For Appellant: Shri Anant N. Pai, CAFor Respondent: Shri Leyaqat Ali Aafaqui
Section 143Section 143(1)Section 154Section 167BSection 2

Income Tax Act, 1961, as the AOP's member shares were indeterminate, necessitating taxation at the MMR. The MMR, as defined under Section 2(290), includes a 37% surcharge as per the Finance Act, 2020, irrespective of the AOP's actual income. Judicial precedents from ITAT Bangalore and Mumbai affirm ... under the Income Tax Act, 1961 is discussed in the ensuing paras. 9.1 Maximum marginal rate (MMR) is defined as per provisions of Section 2(290) of the Income Tax Act, 1961 as under: "Maximum marginal rate" means the rate of income-tax (including surcharge on income

BHAGIRATHI ENTERPRISE,VILE PARLE WEST MUMBAI vs. ITO WARD 34(1)(1), BANDRA EAST MUMBAI

In the result, the appeals filed by the assessee for the AYs

ITA 3128/MUM/2025[2021-22]Status: DisposedITAT Mumbai27 Jun 2025AY 2021-22
For Appellant: Shri Anant N. Pai, CAFor Respondent: Shri Leyaqat Ali Aafaqui
Section 143Section 143(1)Section 154Section 167B

Income Tax Act, 1961, as the\nAOP's member shares were indeterminate, necessitating taxation at the\nMMR. The MMR, as defined under Section 2(290), includes a 37%\nsurcharge as per the Finance Act, 2020, irrespective of the AOP's actual\nincome. Judicial precedents from ITAT Bangalore and Mumbai affirm

HREYANSH VASUNDHARA FAMILY TRUST,PUNE vs. INCOME TAX OFFICER, WARD-7(1), PUNE, PUNE

In the result, the appeal of the assessee is allowed

ITA 1795/PUN/2024[2023-24]Status: DisposedITAT Pune29 May 2025AY 2023-24

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Shri Kiran SanmaneFor Respondent: Shri Ramnath P. Murkunde
Section 111ASection 112Section 112ASection 143(1)Section 167Section 167BSection 2(290)Section 234C

nature of income. 4. In not appreciating that the words "rate of income-tax (including surcharge on income-tax, if any)" in section 2(290) denotes two separate levies and hence MMR does not automatically include higher rate of surcharge. 5. In not appreciating that the total income

HREYANSH VASUNDHARA FAMILY TRUST,PUNE vs. INCOME TAX OFFICER, WARD-7(1), PUNE, PUNE

In the result, the appeal of the assessee is allowed

ITA 1794/PUN/2024[2022-23]Status: DisposedITAT Pune29 May 2025AY 2022-23

Bench: Shri R.K. Panda & Ms. Astha Chandra

For Appellant: Shri Kiran SanmaneFor Respondent: Shri Ramnath P. Murkunde
Section 111ASection 112Section 112ASection 143(1)Section 167Section 167BSection 2(290)Section 234C

nature of income. 4. In not appreciating that the words "rate of income-tax (including surcharge on income-tax, if any)" in section 2(290) denotes two separate levies and hence MMR does not automatically include higher rate of surcharge. 5. In not appreciating that the total income