MOTI TRUST Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) BOTH the above reference applications are disposed of by one single order as common questions of law arise in both the cases except that the assessment years are different.

(2.) THE Income-tax Appellate Tribunal, Jaipur Bench, Jaipur (hereinafter referred to as "the Tribunal"), by order dated August 5,1981, has referred the following questions of law for the opinion of this court :

(3.) THE alternative argument made by learned counsel for the assessee that so far as the two assessments in appeal were concerned, the trustee had not exercised any such discretion and, therefore, the two assessment years were not affected, was also repelled by the Tribunal. In this regard, it was held by the Tribunal that they had to consider from the various clauses of the trust deed as a whole, whether or not the trust was a discretionary one and not that in a particular year the trustee did not exercise that discretion.