The question aforementioned relates to the Assessment Years 1973 74 and 1974 75.
50,000/ Rupees fifty thousand only as numberinees of minor T.A. Joseph Whereas P.J. Joseph had his brothers have transferred and assigned to the trustees upon trust the sum of Rs.
It records this And whereas the beneficiaries, viz.,
The body of the trust deed states, The trustees hereby accept this trust and acknowledge the receipt of Rs.
54,000/ Rs.
6,000/ T.A.George Rs.
Similar questions for subsequent years were answered similarly and are the subject matter of the companynected appeals.
25,000/ Rupees twenty five thousand only as numberinees of T.S. Varghese Whereas Mary Varghese has transferred and assigned to the trustees upon trust the sums of Rs.
33,000/ Thankamma Baby Rs.
54,000/ Rupees fifty four thousand only and Rs.
54,000/ Ammini Abraham Rs.
The High Court answered in the negative and in favour of the Revenue the following question Whether on the facts and in the circumstances of the case the Tribunal was justified in holding that a valid trust came into existence in pursuance of the document dated 17.8.1971 and whether the Tribunal was justified in holding that the assessment for the years 1973 74 and 1974 75 on the trustees had to be made in accordance with the provisions of Section 161 of the Income Tax Act 1961?
Mary Varghese on behalf of her minor daughters Laizamma Varghese and Rasalin Varghese has transferred and assigned to the trustees upon trust the sums referred to in Clause 17 against their respective names Where T.J. Joseph and his mother in law have transferred and assigned to the trustees upon trust the sum of Rs.
3,00,000/ Emphasis supplied The Income Tax Officer rejected the claim that the assessee should be assessed as a representative assessee within the meaning of Section 161 1 of the Income Tax Act because he found that the trust created by the trust deed was invalid.
Similar assessments were made for subsequent years.
The Appellate Assistant Commissioner, allowed the assessees appeal and his order was companyfirmed by the Income Tax Appellate Tribunal.
The Tribunal referred to letters and, other documents number mentioned in the Trust Deed to reach the companyclusion that the donations to the trust had number been made by minOrs.
From out of the order of the Tribunal, the question aforementioned was referred to the High Court.
6,000/ Daisy Scaria Rs.
3 lacs received from each of the beneficiaries as under which they shall hold for and on behalf of the Trust Mary Varghese Rs.
54,000/ Laly Scaria Rs.
29,000/ Rupees twenty nine thousand only and Rs.
6,000/ Laisamma Varghese Rs.
3,000/ Rupees three thousand only respectively as numberinees of minors T.S. Laly and T.S. Daisy Whereas all such transfers as aforesaid were made to the Trustees as numberinees of the respective beneficiaries and it was agreed prior to the date of such transfers that the trustees should execute such declarations of trust.
The facts, briefly stated, are that a trust deed was executed on 17th August, 1971.
Bharucha, J. These appeals are directed against the judgment and order of a Division Bench of the High Court of Kerala.
33,000/ Rasalin Varghese Rs.
21,000/ Rupees twenty one thousand only respectively as numberinees of minors T.S. Varghese and Daisy Whereas Mrs. Ammini Abraham has transferred and assigned to the trustees upon trust the sum of Rs.
54,000/ Davis alias T.S. Varghese Rs.
