COMMISSIONER OF INCOME TAX Vs. JAIPUR CHARITABLE TRUST

JUDGEMENT

(1.) This judgment would dispose of the following six Income-tax References made under Section 66(1) of the Indian Income-tax Act, 1922 (hereinafter referred to as the Act):-

(2.) The respondent-trusts were created by Seth Ramkrishna Dalmia. The first four trusts were created as per trust-deeds dated April 12, 1948, March 7, 1949, June 14, 1948 and March 9, 1949 respectively. The Trust which is the subject matter of 5th and 6th References, was created as per trust-deed dated June 1, 1946.

(3.) Reference No. 40 of 1965 relates to assessment years 1954- 1955, 1955-56, 1956-57, 1957-58, 1958-59, 1959-60 and 1960-61. The assessment years covered by Reference No. 25 of 1965 are 1953-54, 1954-55, 1955-56, 1956-57, 1957-58 and 1958-59. Reference No. 42 of 1965 pertains to assessment years 1956-57, 1957-58 and 1958-59, while Reference No. 43 of 1965 is in respect of assessment years 1953-54, 1954-55, 1955-56, 1956-57, 1957-58 and 1958-59. Reference No. 38 of 1965 relates to assessment years 1948-49 and 1949-50, while Reference No. 37 of 1965 relates, in respect of the same Trust, to the assessment years 1953-54, 1954-55, 1955-56, 1956-57. 1957 58 and 1958-59.