Big relief to Tata Trusts as Tribunal quashed revised assessment order

Sir Dorabji Tata Trust Vs DCIT (ITAT Mumbai) Conclusion: The investment in Tata Sons by assessee trust was not thus for the purpose of investment in shares, but this shareholding being held by the assessee trust was undisputedly for the purpose of sharing the fruits of the success, of the Tata Group, for the benefit of the general public at large. The investments made by a charitable institution in furtherance of its objects, and the investments being held by a charitable institution, as its core corpus, for the furtherance of its objects were qualitatively very different. Thus, revision by CI...