COMMISSIONER OF WEALTH TAX Vs. SUHASBHAI VADILAL

JUDGEMENT

(1.) THE assessee -respondent was assessed by the Wealth -tax Officer for the assessment years 1965 -66 to 1967 -68, from which he preferred three separate appeals. These three appeals were disposed of by the Appellate Assistant Commissioner of Wealth -tax by a common judgment dated March 16, 1977. The assessee again challenged the aforesaid decision by three appeals filed before the Appellate Tribunal being Wealth -tax Appeals Nos. 68 to 70/(Ahmd.) of 1977 -78. It is from these appeals that the present reference has arisen.

(2.) IN fact, three separate reference numbers ought to have been given to these proceedings. We, accordingly, direct that they shall be numbered as Wealth -tax References Nos. 29, 29A and 29B of 1980, which are now being decided by the present common judgment and order.

(3.) CLAUSE 3A(a) of the indenture lays down the obligation on the trustees in respect of the assessment years 1960 -61 to 1963 -64. Under clause 3A(b), the trustees were obliged to pay the residue of the income for each of the two financial years, viz., assessment year 1964 -65 and assessment year 1965 -66, to Ilaben, daughter of the settlor, absolutely at the end of each financial year. Similarly, clause 3A(c) of the indenture obliges the trustees to pay the residue of the income in respect of the assessment years 1966 -67 and 1967 -68 to Jayshree, daughter of the settlor, absolutely at the end of each financial year. Clause 3A(d) of the said indenture deals with the provision in relation to the assessee as under :