DIPTI NARAYAN SRIMANI CONTROLLER OF ESTATE DUTY WEST BENGAL Vs. CONTROLLER OF ESTATE DUTY WEST BENGAL:DIPTI NARAYAN SRIMANI

JUDGEMENT

(1.) These appeals, by certificate, under S. 65 of the Estate Duty Act of 1953 ('Act' for short) - one by the accountable person and the other by the Deputy Controller of the Estate Duty - arise out of and are directed against the judgment dated, 11-10-74 of the High Court of Calcutta, answering, in a reference under S. 64(1) of the 'Act', the question of law referred for its opinion,

(2.) The said Satya Charan Srimani during his lifetime had executed three trust deeds, dated, 8-12-1947, 21-9-1953 and 4-10-1959 respectively. In the proceedings, the nature and effect of the dispositions made under the deeds of the trust, dated 21-9-1953 and 4-10-1959 fell for consideration.

(3.) Under the deed dated 4-10-1959, the settlor transferred upon trust to himself and his son Dipti Narayan Srimani as Trustees, six other properties, one of them situate in Varanasi, for the conduct of daily-worship and periodical festivals, rituals and ceremonies of the deity, Shri Ishwar Gobinda Jiu; for certain charitable purposes and also for the benefit of himself and his heirs. The settlor provided for his residence, free of rent, in one room on the ground floor in the Varanasi property. A 1/4th of the net-income of the trust-properties, after defraying expenses and taxes, was to be paid to the shebait for the conduct of the worship, rituals and services of the deity Shri Ishwar Gobinda Jiu; another 1/4th to be spent on the charitable purposes mentioned in the deed and the balance of 1/2 for the development, additions and alterations of two of the trust-properties viz. Nos. 41 and 42 Macleod Street, Calcutta. After completion of the developments and alterations, the said 1/2 share was stipulated to go for the benefit of the settlor during his lifetime and thereafter to his heirs. Under both the dispensations, the settlor constituted himself the shebait.