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I-T tribunal stays tax demand against Tata Education and Development Trust

The Rs 100-crore tax demand on Tata Education and Development Trust was raised last year by the I-T department owing to cancellation of registration on past exempted income.

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The matter has been referred to a larger Bench to see if the amendment curtailing tribunal powers to grant stay is legally tenable and if yes whether it’s mandatory. The matter is likely to be heard next on July 6.

Shrimi Choudhary New Delhi
The Income-tax Appellate Tribunal (ITAT) on Thursday stayed a tax demand against one of the entities of Tata Trusts, which owns a majority share in the group’s holding company Tata Sons. 

The Rs 100-crore tax demand on Tata Education and Development Trust was raised last year by the I-T department owing to cancellation of registration on past exempted income. This was part of a larger case involving cancellation of registration of a clutch of six entities under Tata Trusts with an estimated Rs 10,000-12,000-crore tax implication. 

The matter has been referred to a larger Bench to see if the amendment

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First Published: Jun 19 2020 | 1:34 AM IST

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