ITAT allows tax exemptions to Tata Trusts - The Hindu BusinessLine
December 28, 2020 × The Income Tax Appellate Tribunal rejected the I-T Commissioner’s stand that the Tata Trusts had gained from owning Tata Sons shares The Income Tax Appellate Tribunal (ITAT) on Monday overturned a revised assessment order of the Commissioner of Income Tax - Exemptions (CIT) that had alleged violations by three Tata Trusts — Sir Dorabji Tata Trust, Sir Ratan Tata Trust and JRD Tata Trust. The CIT had said the Trusts may have violated the provisions of Section 13(1)(d) of the Income Tax Act during assessment year 2014-15, and that the Assessing Officer (AO) did not pro...
Source: thehindubusinessline.com