The exemption was granted following a Supreme Court order
The Sri Saibaba Temple Trust of Shirdi has been exempted from the payment of income tax of Rs 175 crore levied in the last three years, its officials said on Friday.
The exemption was granted following a Supreme Court order, it said in a release.
"While assessing the tax for the year 2015-16, the Income Tax Department assumed that Shri Saibaba Sansthan was not a religious trust but a charitable trust, and levied 30 percent income tax on the donations received in the donation box and issued a tax payment notice of Rs 183 crore," it said.
The trust then filed a writ petition in the Supreme Court which "ordered a stay on the tax payable till the determination of tax," it said.
The Income Tax Department finally granted it exemption from the tax levied on the donation in the donation box, accepting the Shree Saibaba Sansthan as a religious and charitable trust.
"Thus, Sri Saibaba Sansthan has been exempted from income tax of Rs175 crore levied in the last three years," said the release.
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