COMMISSIONER OF INCOME TAX Vs. HAWBAI TRUST

JUDGEMENT

(1.) PURSUANT to the directions of this Court in O.P. Nos. 3435, 3436 and 3466 of 1977, the Tribunal, Cochin Bench, has referred to us the following questions :

(2.) IN the light of the decision of this Court in Commr. of Agrl. IT vs. Abdul Sathar Haji Moosa Sait (1971) 81 ITR 230 (Ker) : TC23R.369, as confirmed by the Supreme Court in Abdul Sathar Haji Moosa Sait Dharmastapanam vs. Commr. of Agrl. IT 1973 CTR (SC) 423 : (1973) 91 ITR 5 (SC) : TC23R.367, question No. 3 has to be answered in favour of the Revenue and against the assessee. We do so.

(3.) IN the light of our answer to question No. 1, we decline to answer question No. 2. That question is accordingly not answered. We direct the parties to bear their respective costs in these tax referred cases.