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News INCOME TAX

  • Dec 31, 2020
  • ITAT omits inadvertent observations made against Cyrus Mistry in its order

    The Income-Tax Appellate Tribunal (ITAT) on Wednesday expunged certain strong observations made against former Tata Sons Chairman Cyrus Mistry on his access to information with respect to Tata Trusts. The tribunal clarified that it had inadvertently failed to mention that the information furnished by Mistry was in response to an income-tax notice.

    The tribunal's corrigendum comes after it made strong remarks against Mistry while restoring the tax exemption of the three major Tata Trusts.