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

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