Tata Trusts must introspect on greater scrutiny by govt bodies: Cyrus Mistry

New Delhi, Dec 31 : SP Group chief Cyrus Mistry on Thursday said that instead of seeking to blame him at every turn, the Trustees of the Tata Trusts must introspect why they have deviated, leading to a greater scrutiny on their operations by the various government bodies.
“We note that the Income Tax Appellate Tribunal has issued a corrigendum on its own, to correct the wild personal allegations made against Mr Mistry that formed part of its order dated 28 December, in proceedings where Mr Mistry was not even a party,” a statement from Mistry’s office said.
The corrigendum states “inadvertent errors” had crept into the order involving Tata Trusts.
“The reversal of these comments acknowledges that information sent by Mr Mistry to the Deputy Commission of Income Tax (DCIT) had been in response to a specific summons, conduct that is expected of any law-abiding person. This acknowledgement by the ITAT corroborates the submissions in this regard put forward by the SP Group before the Supreme Court, and is one step towards the vindication of truth and justice,” it said.
“It is a matter of record that after Tata Sons failed to respond to an earlier notice, the DCIT had issued summons and called upon directors of Tata Sons including Mr Mistry to comply with a notice issued under Section 133(6) of the Income Tax Act. Even the Articles of Tata Sons envisages disclosure of information when required to do so by a court of law. The DCIT is a ‘civil court’ under the Income Tax Act, 1961. As a director of Tata Sons, Mr Mistry responding to the summons was a legal requirement and fully in accordance with the Articles of Association of Tata Sons and more importantly, a discharge of his fiduciary duties as a director,” the statement said.
Mistry said the Tata Trusts are public charitable trusts, not a family investment firm, and the current trustees, who are fiduciaries, have been tasked with the noble goal of improving the lives of millions of Indians through philanthropy.