Section 2(29C) of the Income Tax Act

The decision most relied on for Section 2(29C) is CIT v. K. Srinivasan (83 ITR 346), cited in 129 of the 72 judgments on BharatTax that turn on this section.

Leading authorities on Section 2(29C)

CIT v. K. Srinivasan
83 ITR 346 · 1972 · Supreme Court
129
citing judgments

The term 'tax' includes surcharge and cess. Surcharge and additional surcharge are considered components of income tax, which can be levied as a basic charge, surcharge, special surcharge, and additional surcharge.

CIT v. Sae Head Office Monthly Paid Employees Welfare Trust
271 ITR 159 · 2004 · High Court
30
citing judgments

Beneficiaries of a trust do not set up the trust, and trustees derive authority from the trust deed, meaning neither trustees nor beneficiaries form an association for a common purpose solely due to their existence.

CIT v. Shree Krishna Bandar Trust
247 ITR 1 · 2001 · High Court
23
citing judgments

An Assessing Officer can rectify a mistake apparent from the record under Section 154 if the assessee is erroneously taxed at individual rates when it should have been taxed as an AOP.

Araadhya Jain Trust v. ITO
173 Taxmann.com 343 · 2025 · ITAT
22
citing judgments

The definition of maximum marginal rate under section 2(29C) can be interpreted to determine the applicable surcharge rates, particularly for income including dividends, as per the First Schedule to the Finance Act. This affects how surcharge is calculated on taxable income.

ITO v. Tayal Sales Corporation
1 SOT 579 · 2003 · ITAT
18
citing judgments

The maximum marginal rate (MMR) of income tax is applied, and surcharge is levied separately if applicable. Surcharge is not leviable if the quantum of income is below a certain threshold.

CIT v. CV Divakaran Family Trust
122 Taxmann 405 · 2002 · High Court
9
citing judgments
CIT v. C.V. Divakaran Family Trust
254 ITR 222 · 2002 · High Court
7
citing judgments
Piarelal Sakseria Family Trust v. CIT
136 ITR 583 · 1982 · Reported
6
citing judgments
Surendranath Gangopadhyaya Trust v. CIT
142 ITR 149 · 1983 · Reported
5
citing judgments
Clestra Foundation v. ITO
169 Taxmann.com 46 · 2024 · Reported
5
citing judgments

Judgments on Section 2(29C)

Sanjay Nayar Family Trust, Mumbai vs. ITO Ward 22(2)(1), Mumbai

In the result, both the appeals of the assessee are allowed

ITA 2155/MUM/2026[2023-24]Status: DisposedITAT Mumbai15 Jul 2026AY 2023-24

Bench: Shri Om Prakash Kant () & Shri Pawan Singh ()

For Respondent: Shri Viral Shah, CA a/w Ms. Sakshi
Section 111ASection 112ASection 139(5)Section 143(1)Section 2Section 234C

Sanjay Nayar Family Trust, Mumbai vs. ITO Ward 22(2)(1), Mumbai

In the result, both the appeals of the assessee are allowed

ITA 2154/MUM/2026[2022-23]Status: DisposedITAT Mumbai15 Jul 2026AY 2022-23

Bench: Shri Om Prakash Kant () & Shri Pawan Singh ()

For Respondent: Shri Viral Shah, CA a/w Ms. Sakshi
Section 111ASection 112ASection 139(5)Section 143(1)Section 2Section 234C

M/S. Estate of Shyamlal Khemka, Mumbai vs. Income Tax Officer Ward 17(3)(1), Mumbai

In the result, the appeal of the assessee bearing ITA No

ITA 1276/MUM/2026[2021-22]Status: DisposedITAT Mumbai28 Apr 2026AY 2021-22

Bench: Shri Om Prakash Kant, Am & Shri Anikesh Banerjee, Jm M/S. Estate Of Shyamlal Khemka, Income Tax Officer,Ward 17(3)(1), 3Rd Floor, Hari Bhavan, Kautilya Bhavan, 64, Peddar Road, Vs. Bandra Kurla Complex, Mumbai – 400 026 Bandra (East), Mumbai – 400 051 Pan:Aabae3866C (Appellant) : (Respondent)

For Appellant: Shri Sashi Bekal, AR
Section 143(1)Section 154Section 234Section 250

Chanda Bharech Beneficiary Trust, Kolkata vs. ITO, Ward 33(2), Kolkata

In the result, the appeals of the assessee are allowed

ITA 3062/KOL/2025[2022-2023]Status: DisposedITAT Kolkata05 Mar 2026AY 2022-2023

Bench: The Bench That The Issue Is Squarely Covered By The Special Bench Of The Mumbai In The Case Of Araadhya Jain Trust Vs. Ito, Ita No. 4272/Mum/2024, A.Y. 2023-24, Order Dated 09.04.2025, Wherein A Similar Issue Has Been Decided In Favour Of The Assessee. The Ld. Ar Therefore, Prayed That The Issue May Be Kindly To Be Decided In The Light Of Said Decision By Following The Same As The Facts Are Similar.

Section 143(1)Section 164Section 167BSection 2Section 250

Chanda Bharech Beneficiary Trust, Kolkata vs. ITO, Ward 33(2), Kolkata

In the result, the appeals of the assessee are allowed

ITA 3061/KOL/2025[2021-2022]Status: DisposedITAT Kolkata05 Mar 2026AY 2021-2022

Bench: The Bench That The Issue Is Squarely Covered By The Special Bench Of The Mumbai In The Case Of Araadhya Jain Trust Vs. Ito, Ita No. 4272/Mum/2024, A.Y. 2023-24, Order Dated 09.04.2025, Wherein A Similar Issue Has Been Decided In Favour Of The Assessee. The Ld. Ar Therefore, Prayed That The Issue May Be Kindly To Be Decided In The Light Of Said Decision By Following The Same As The Facts Are Similar.

Section 143(1)Section 164Section 167BSection 2Section 250

Chanda Bharech Beneficiary Trust, Kolkata vs. ITO, Ward 33(2), Kolkata

ITA 3060/KOL/2025[2020-2021]Status: DisposedITAT Kolkata05 Mar 2026AY 2020-2021
Section 143(1)Section 164Section 167BSection 2Section 250

Maruti Trust, Kolkata vs. I.T.O., Ward - 30(1), Kolkata

In the result, the appeals of the assessee are allowed

ITA 2312/KOL/2025[2024-2025]Status: DisposedITAT Kolkata26 Feb 2026AY 2024-2025

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm

For Appellant: Ms. Mita Rizvi, ARFor Respondent: Shri Santanu Ghosh, DR
Section 139(1)Section 143(1)Section 164Section 167BSection 2

Maruti Trust, Kolkata vs. I.T.O., Ward - 30(1), Kolkata

In the result, the appeals of the assessee are allowed

ITA 2311/KOL/2025[2023-2024]Status: DisposedITAT Kolkata26 Feb 2026AY 2023-2024

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm**

Section 139(1)Section 143(1)Section 164Section 167BSection 2

Maruti Trust, Kolkata vs. I.T.O., Ward - 30(1), Kolkata

In the result, the appeals of the assessee are allowed

ITA 2310/KOL/2025[2022-2023]Status: DisposedITAT Kolkata26 Feb 2026AY 2022-2023

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm

For Appellant: Ms. Mita Rizvi, ARFor Respondent: Shri Santanu Ghosh, DR
Section 139(1)Section 143(1)Section 164Section 167BSection 2

Rahulkumar Bajaj Charitable Trust, Mumbai vs. Deputy Commissioner of Income Tax, Mumbai

In the result, the appeal filed by the assessee is hereby partly allowed

ITA 1770/MUM/2025[2023-24]Status: DisposedITAT Mumbai23 Dec 2025AY 2023-24

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm

For Respondent: Shri R. R. Makwana, Addl. CIT
Section 11Section 12ASection 139(1)Section 143(1)Section 250

Rahulkumar Bajaj Charitable Trust, Mumbai vs. Deputy Commissioner of Income Tax, Mumbai

In the result, the appeal filed by the assessee is hereby partly allowed

ITA 1769/MUM/2025[2022-23]Status: DisposedITAT Mumbai23 Dec 2025AY 2022-23

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm

For Respondent: Shri R. R. Makwana, Addl. CIT
Section 11Section 12ASection 139(1)Section 143(1)Section 250

Rahulkumar Bajaj Charitable Trust, Mumbai vs. Deputy Commissioner of Income Tax, Mumbai

In the result, the appeal filed by the assessee is hereby partly allowed

ITA 1768/MUM/2025[2021-22]Status: DisposedITAT Mumbai23 Dec 2025AY 2021-22

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm

For Respondent: Shri R. R. Makwana, Addl. CIT
Section 11Section 12ASection 139(1)Section 143(1)Section 250

Rose Trust, Delhi vs. Deputy Commissioner of Income Tax, Delhi

In the result, the appeal of the assessee is allowed as above

ITA 725/DEL/2025[2023-24]Status: DisposedITAT Delhi31 Oct 2025AY 2023-24

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishraita No.725/Del/2025, A.Y. 2023-24 Rose Trust, Dy. Commissioner Of B-60/61, C/O Bajaj Auto Ltd., Income Tax, Circle-49(1), Naraina Ind. Area, Phase-Ii, Vs. Civic Centre, Mito Road New Delhi-110028 New Delhi Pan: Aaatr0380G (Appellant) (Respondent) Appellant By Ms. Vasanti Patel, Ar Sh. Mahendra Gohel, Ca Respondent By Sh. Om Prakash, Sr. Dr Date Of Hearing 10/10/2025 Date Of Pronouncement 31/10/2025 Order Per Avdhesh Kumar Mishra, Am This Appeal Of The Assessee For The Assessment Year (‘Ay’) 2023-24 Is Directed Against The Order Dated 31.12.2024 Of The Additional/Joint Commissioner Of Income Tax (Appeal), Mysore [‘Addl. Cit(A)’].

Section 11Section 115ASection 115BSection 143(1)Section 154Section 2

Sri Sri Laxmi Sri Sri Narayan and Sri Sri Kali Trust, Kolkata vs. ITO, Ward 22(2), Kolkata

In the result, both the appeals filed by the assessee are allowed

ITA 733/KOL/2025[2024-25]Status: DisposedITAT Kolkata21 Oct 2025AY 2024-25

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Section 143(1)Section 160Section 164Section 164(1)Section 2Section 250Section 3

Manjar Discretionary Family Trust, Rajkot vs. ITO Ward 1(1)(1), Rajkot

ITA 164/RJT/2025[2024-25]Status: DisposedITAT Rajkot15 Oct 2025AY 2024-25
Section 143(1)Section 164Section 244A

Shri Rampurush Mandir Society, Cuncolim vs. Assistant Director of Income Tax - CPC, Bangalore

ITA 76/PAN/2025[2022-23]Status: DisposedITAT Panaji26 Aug 2025AY 2022-23

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 75 & 76/Pan/2025 Assessment Year : 2021-22 & 2022-23 Shri Rampurush Mandir Society Veroda, Cuncolim, Salcete, Goa-403703. Pan : Aadas9268E . . . . . . . Appellant V/S Asstt. Director Of Income Tax, Cpc, Bengaluru. . . . . . . . Respondent Appearances Assessee By : Mr Narcinva Lotlikar [‘Ld. Ar’] Revenue By : Mr Ish Gupta [‘Ld. Dr’] Date Of Conclusive Hearing : 25/08/2025 Date Of Pronouncement : 26/08/2025 Order Per G. D. Padmahshali; The Twin Appeals Of The Appellant Assessee Impugns Separate Din & Orders Both Dt. 10/03/2025 Passed By The Addl./Jt. Commissioner Of Income Tax, Appeals(2), Kolkata [‘Ld. Cit(A)/Nfac’ Hereinafter] U/S 250 Of The Income-Tax Act, 1961 [‘The Act’ Hereinafter] Which In Turn Emanated Out Of Respective Summary Assessment Dt. 23/09/2022 & 16/03/2023 Passed U/S 143(1) Of The Act By The National Faceless E-Asstt Centre [‘Ld. Ao’ Hereinafter] Anent To Assessment Years 2021- 22 & 2022-23 [‘Ays’ Hereinafter].

For Appellant: Mr Narcinva Lotlikar [‘Ld. AR’]For Respondent: Mr Ish Gupta [‘Ld. DR’]
Section 143(1)Section 164Section 167BSection 2Section 246ASection 250

Shri Rampurush Mandir Society, Cuncolim vs. Assistant Director, CPC, Bangalore

ITA 75/PAN/2025[2021-22]Status: DisposedITAT Panaji26 Aug 2025AY 2021-22

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 75 & 76/Pan/2025 Assessment Year : 2021-22 & 2022-23 Shri Rampurush Mandir Society Veroda, Cuncolim, Salcete, Goa-403703. Pan : Aadas9268E . . . . . . . Appellant V/S Asstt. Director Of Income Tax, Cpc, Bengaluru. . . . . . . . Respondent Appearances Assessee By : Mr Narcinva Lotlikar [‘Ld. Ar’] Revenue By : Mr Ish Gupta [‘Ld. Dr’] Date Of Conclusive Hearing : 25/08/2025 Date Of Pronouncement : 26/08/2025 Order Per G. D. Padmahshali; The Twin Appeals Of The Appellant Assessee Impugns Separate Din & Orders Both Dt. 10/03/2025 Passed By The Addl./Jt. Commissioner Of Income Tax, Appeals(2), Kolkata [‘Ld. Cit(A)/Nfac’ Hereinafter] U/S 250 Of The Income-Tax Act, 1961 [‘The Act’ Hereinafter] Which In Turn Emanated Out Of Respective Summary Assessment Dt. 23/09/2022 & 16/03/2023 Passed U/S 143(1) Of The Act By The National Faceless E-Asstt Centre [‘Ld. Ao’ Hereinafter] Anent To Assessment Years 2021- 22 & 2022-23 [‘Ays’ Hereinafter].

For Appellant: Mr Narcinva Lotlikar [‘Ld. AR’]For Respondent: Mr Ish Gupta [‘Ld. DR’]
Section 143(1)Section 164Section 167BSection 2Section 246ASection 250

M V Subramanian Family Trust, Chennai vs. ITO, Ncw-1(1), Chennai

In the result, the appeal filed by the assessee is allowed

ITA 1087/CHNY/2025[2021-22]Status: DisposedITAT Chennai25 Aug 2025AY 2021-22

Bench: Shri Manu Kumar Giri & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 1087/Chny/2025 िनधा"रण वष"/Assessment Year:2021-22 M/S. M V Subramanian Family The Income Tax Officer, Trust, Non-Corporate Ward 1(1), 10, Valliammai Achi Road, Vs. Chennai. Kotturpuram, Chennai – 600 085. Pan: Aaetm 9151C (""यथ"/Respondent) (अपीलाथ"/Appellant) अपीलाथ" क" ओर से/Appellant By : Shri Ashwin, Ca ""यथ" क" ओर से/Respondent By : Ms. Anitha, Addl.Cit सुनवाई क" तारीख/Date Of Hearing : 24.07.2025 घोषणा क" तारीख/Date Of Pronouncement : 25.08.2025

For Appellant: Shri Ashwin, CAFor Respondent: Ms. Anitha, Addl.CIT
Section 111ASection 112ASection 143(1)Section 154Section 2Section 234BSection 234C

A L Sreenivasa Shenoy & Others, Ernakulam vs. ITO, Non Corporate Ward 1(1), Kochi

In the result, the appeal filed by the assessee stands allowed

ITA 326/COCH/2025[2024-25]Status: DisposedITAT Cochin31 Jul 2025AY 2024-25

Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm Assessment Year: 2024-25 A.L. Sreenivasa Shenoy & Others .......... Appellant Shenoy Chambers, Shanmugham Road Ernakulam 682031 [Pan: Aahaa1748F] Vs. The Income Tax Officer .......... Respondent Non Corporate Ward 1(1), Kochi Appellant By: Shri Deepak Jose, Ca & Shri Sivakumar, Ca Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 05.06.2025 Date Of Pronouncement: 31.07.2025

For Appellant: Shri Deepak Jose, CAFor Respondent: Smt. Leena Lal, Sr. D.R
Section 143(1)Section 2

Rajiv Trust, Mumbai vs. Deputy Commissioner of Income Tax, Mumbai

In the result, the appeal of the assessee is allowed

ITA 161/MUM/2025[2022-23]Status: DisposedITAT Mumbai15 Jul 2025AY 2022-23

Bench: Shri Pawan Singh& Ms. Padmavathy S

Section 111ASection 12ASection 143(1)Section 2Section 234CSection 254(1)