3:30 PMTax tribunal upholds tax-exempt status of Tata Trusts; censures MistryA setback for the Cyrus camp. It also censured former Tata Sons Chairman Syrus Mistry for supplying documents to the tax department soon after his unceremonious exit as the head of the salt-to-software group. The three trusts collectively hold about 66 per cent in Tata Sons - the holding company of Tata Group. Tata Trusts had appealed to the tribunal, denying the claims of the CIT-E. Mistry was removed as Tata Sons chairman in October 2016.

Source: The Hindu December 29, 2020 04:23 UTC