SHERVANI CHARITABLE TRUST Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS reference under section 66(1) of the Indian Income-tax Act, 1922 (hereinafter referred to as the Act) has been made by the Income-tax Appellate Tribunal, Bombay Bench (hereinafter referred to as the Tribunal), and the following question of law has been referred to this court for its opinion :

(2.) THE reference has been made in respect of the assessment years 1957-58, 1958-59 and 1959-60. THE corresponding previous years are the financial years ending in 31st March, 1957, 31st March, 1958, and 31st March, 1959.

(3.) THE Accountant Member agreed with the conclusions of the Judicial Member but dictated a separate order in which he stated that he agreed with the conclusions of the Judicial Member but not without hesitation.