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A high-profile Mumbai bench of the Income Tax Appellate Tribunal (ITAT) on Monday quashed the revisionary orders passed by the commissioner (exemptions), which would have resulted in three Tata Trusts having to bear taxes running into several lakhs.

The Income Tax Appellate Tribunal’s (ITAT) Mumabi bench passed three separate orders upholding the tax-exempt status of Ratan Tata Trust, JRD Tata Trust and Dorabji Tata Trust, which hold about 66% in Tata Sons. The Tribunal said the March 2019 revision order of the I-T department that sought to cancel tax exemption to the three … Continue reading ITAT upholds tax-exempt status of Tata Trusts

Tata Trusts is considering appointing chairman Ratan Tata’s half-brother and trustee Noel Tata on the board of Tata Sons, in which the foundation is the controlling shareholder. Speculation over Noel’s induction has intensified with Trusts planning to expand its nominees on the board of the company. Currently, Trusts has just one representative on the board … Continue reading Tata Trusts may place Noel on Tata Sons board

Tata Sons chairman emeritus Ratan Tata has divulged details about his personal life and stated that he “fell in love and almost got married” after college. Speaking to ‘Humans of Bombay’ on Facebook, the Tata Trusts chairman recalled some of his life’s moments and credited his grandmother for teaching him to retain dignity at all … Continue reading ‘Almost got married’ after college, says Ratan Tata