SHERVANI CHARITABLE TRUST vs COMMISSIONER OF INCOME-TAX, U. P. — 1971 PTD 156

Citation: 1971 PTD 156

Court: Allahabad High Court

Year: 1967

Decision Date: 1967-07-06

Parties: SHERVANI CHARITABLE TRUST vs COMMISSIONER OF INCOME-TAX, U. P.

Headnotes

Case cited as 1971 PTD 156

Judgment Text

Court Name: Allahabad High Court Judge(s): Jagdish Sahai, R. S. Pathak Title: SHERVANI CHARITABLE TRUST vs COMMISSIONER OF INCOME-TAX, U. P. Case No.: Income-tax Reference No. 340 of 1963 Date of Judgment:1967-07-06 Reported As: 1971 PTD 156 Result: Question answered in the negative JUDGMENT JUDGMENT JAGDISH SAHAI, J.-This reference under section 66(1) of the Indian Income-tax Act, 1922 (hereinafter referred to as the Act) has been made by the Income-tax Appellate Tribunal, Bombay Bench (hereinafter referred to as the Tribunal), and the following question of law has been referred to this Court for its opinion: "Whether, on the facts and in the circumstances of the case, such income derided from the trust property as is spent on the maintenance and support of the members of the Shervani family and relatives is exempt under section 4(3)(i) of the Income-tax Act, 1922 ?" The reference has been made in respect of the assessment years 1957-58, 1958-59 and 1959-60. The corresponding previous years are the financial years ending on 31st March 1957, 31st March 1958 and 31st March 1959. From the statement of the case it is clear that on 13th April 1956, Shri M. R. Shervani and Shri. N. A. Shervani jointly made a declaration of the trust which was registered on the following day. A copy of that trust deed has been annexed to the statement of the case and had been marked as Annexure "A". The third paragraph of the trust deed reads: "And whereas the aforesaid donors are desirous of…

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