ITAT allows exemption of Rs 220 cr to Tata Education & Development Trust

Tata Education and Development Trust Vs Asst. CIT Circle 2 (ITAT Mumbai)

In a major relief for Tata Education and Development Trust, the Income Tax Appellate Tribunal (ITAT) bench consisting of Justices PP Bhatt, President, ITAT, on 24^th July ruled in favour of the trust in their appeal against commissioner income tax (CIT) appeal order wherein a demand of more than Rs.220 crore was levied by the tax department .ITAT also stayed the matter of that demand without any minimum pay.

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