COMMISSIONER OF INCOME TAX Vs. GANPATRAI SAGARMALL

JUDGEMENT

(1.) This is a reference under Section 256(1) of the I.T. Act, 1961. The assessment years are 1971-72 and 1972-73.

(2.) The assessee is a firm and carries on business at Calcutta. The partners of the assessee-firm are the settlors of a charitable trust known as " Ganpatrai Sagarmall Charitable Trust ". Those partners and two other persons are the trustees of the aforesaid trust.

(3.) In the assessment proceedings for the aforesaid years, the assessee claimed that Rs. 16,457 and Rs. 13,880, respectively, were not assessable in its hands on the ground that the aforesaid amounts were the income of the aforesaid trust from a house property at premises No. 37/1, Jatindra Mohan Avenue, Calcutta.