CONTROLLER OF ESTATE DUTY Vs. TARABAI

JUDGEMENT

(1.) THE following question has been referred by the Income-tax Appellate Tribunal under Section 64(1) of the Estate Duty Act, 1953 :

(2.) THE late Kundanlal Singhai owned the property known as "Lal Godam". He executed a trust deed dated January 31, 1959, creating a trust in respect of "Lal Godam" with certain cash amount. THE document was registered on the same day. He got the trust registered as a public charitable trust also. On February 7, 1959, he executed a registered gift deed in regard to "Lal Godam" property in favour of his daughter who resided therein, and contended that the trust deed had not taken effect and his signatures were obtained thereon by fraud practised upon him by the husband of his other daughter. THE Assistant Controller of Estate Duty upheld the trust deed treating it as part of the estate in view of the provisions of Section 12 of the Estate Duty Act, 1953 (hereinafter referred to as "the Act", for short). Accordingly, assessment followed. This conclusion was upheld by the appellate authority.

(3.) LEARNED standing counsel for the Revenue strenuously contended that the finding of the Tribunal that the trust deed was never acted upon is unsustainable. Such a contention is not the subject-matter of the question referred to us and, therefore, we cannot consider the same.