The Income Tax Appellate Tribunal (ITAT) has 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 Sir Dorabji Trust, JRD Trust and Ratan Tata Trust. On Wednesday, the tribunal bench, presided over by Justice PP Bhatt and Pramod Kumar, said that their order of December 28 stands modified.
Tata Trusts must introspect on greater scrutiny by govt bodies: Cyrus Mistry
By IANS |
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Thu, Dec 31 2020 18:03 IST |
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Ratan Tata and Cyrus Mistry Image Source: IANS News
New Delhi, Dec 31 : SP Group chief Cyrus Mistry on Thursday said that instead of seeking to blame him at every turn, the Trustees of the Tata Trusts must introspect why they have deviated, leading to a greater scrutiny on their operations by the various government bodies. We note that the Income Tax Appellate Tribunal has issued a corrigendum on its own, to correct the wild personal allegations made against Mr Mistry that formed part of its order dated 28 December, in proceedings where Mr Mistry was not even a party, a statement from Mistry s office said.
The tax body issues a corrigendum saying “critical remarks were due to a typo”.
In an unprecedented move, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has retracted the critical remarks it made on Cyrus Mistry in its recent order that restored the tax-exempt status of the three key Tata Trusts.
In a major moral victory for the past chairman of Tata Group who was unceremoniously sacked on October 24, 2016, the Tribunal issued a corrigendum on Wednesday to its December 28 order saying “the critical remarks were due to a typo”.
The corrigendum issued by president of the tribunal P P Bhatt and vice-president Pramod Kumar, clarifies that the first order made certain “inadvertent references to Mistry because of a few typo errors.” Further, it says in observations on Mr. Mistry one fact that was inadvertently missed out was that the information furnished by Mr. Mistry was in response to a notice from the assessing officer.
‘ITAT order corrigendum, a vindication’
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Former Tata Sons chairman Cyrus Mistry’s office said the Income-Tax Appellate Tribunal (ITAT) has issued a corrigendum on its own, to correct ‘the wild, personal’ allegations made against Mr. Mistry, that formed a part of its December 28 order, in proceedings ‘where he was not even a party.’
“The corrigendum states ‘inadvertent errors’ had crept into the order involving Tata Trusts,” Mr. Mistry’s office said.
“The reversal of these comments acknowledges that information sent by Mr. Mistry to the Deputy Commission of Income-tax had been in response to a specific summons, a conduct that is expected of any law-abiding person.”
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