COMMISSIONER OF INCOME TAX Vs. MATHUR B N

JUDGEMENT

(1.) IN respect of the asst. year 1981 -82, the petitioner seeks a direction to the Tribunal to state the case and refer the following two questions of law to this Court:

(2.) AS is evident from a reading of the aforesaid questions, the point in issue pertains to the validity of a trust deed stated to have been executed by one Shri P. N. Mathur who was the brother of the respondent. This trust deed is alleged, by the respondent, to have been executed by Shri P. N. Mathur for the maintenance of the daughter of the respondent under D. M. K. S. Maintenance Trust. According to the deed, the corpus of the trust was to be Rs. 10,000.

(3.) THE aforesaid question regarding the genuineness of the trust arose for the first time in the previous year relevant to the asst. year 1975 -76. The respondent filed an appeal and the appellate authority held that the trust was genuine and decided the case against the Revenue. Thereafter, for the asst. year 1975 - 76, second appeal was filed to the Tribunal. The Tribunal, vide its order dated November 29, 1985, dealt with all the contentions and came to the conclusion that, on the material on record, a valid trust had been created, vide document dated February 23, 1974. The order of the Tribunal in respect of the asst. year 1975 - 76 has become final because when no reference was ordered by the Tribunal, an application under S. 256(2) of the IT Act was filed, but the same was dismissed on account of its being barred by time.