COMMISSIONER OF INCOME TAX Vs. BROJENDRA NATH KUNDU

JUDGEMENT

(1.) In this reference under Section 256(1) of the Income-tax Act, 1961, we are called upon to construe a deed of trust dated 7th August, 1950, at the instance of the Commissioner of Income-tax, West Bengal-Ill, Calcutta. The facts as found and admitted and as also appearing from the records of the reference may be briefly stated as follows: Brojendra Nath Kundu, the assessee, is the owner of a house, No. 10A, Chandni Chawk Street, Calcutta. The assessee married three times. His first wife died in 1930. His second wife is separated from him and is living apart and being maintained by the assessee at Rs. 25 per month. The third wife, viz., Umasashi Dassi, is living. The assessee has two issues by Umasashi, namely; Sambhu Nath Kundu and Bhola Math Kundu. The eldest son of the assessee is one Joydeb Kundu.

(2.) On the 7th August, 1950, the assessee executed a deed of trust. The said deed was rectified by another deed on the 11th February, 1960. The subject-matter of the said deed of trust is the premises No. 10A, Chandni Chawk Street. The assessee conveyed the said premises in trust to himself and his third wife, Umasashi Dassi, for the purposes as set out in the deed as follows:

(3.) In 1950, at the time when the said deed was executed, Sambhu Nath and Bhola Nath, the two sons of the assessee were minors. Sambhu Nath attained majority in or about 1958.