(1.) In this reference, under Section 256 (1) of the I.T. Act, 1961, the following two questions have been referred to this court:
(2.) This reference relates to the assessment years 1967-68 and 1968-69. It appears that one Shri Girdharilal Hansraj Kamani had executed a registered indenture of settlement on May 21, 1960, settling on trust for public, religious and/or charitable purposes the property known as " Kamani Mansion " bearing No. 3, Allenby Road, Calcutta, in favour of six trustees specified in the said deed. As mainly the construction of the said trust deed is relevant for our purpose it would be instructive to refer to the relevant provisions. After the recital the trust deed declared in the habendum clause as follows :
(3.) Then after specifying the duties of the trustees, the trust deed provided, inter alia, as follows :