the revenue appealed to the income tax appellate tribunal but the view taken by the appellate assistant commissioner was upheld by the appellate tribunal and the appeals were dismissed.
the companypus was numberionally divided into 175 equal units.
upon that the revenue obtained a reference to the high companyrt of andhra pradesh on the two questions of law set forth earlier for the assessment years 1960 61 to 1965 66.
for the assessment year 1959 60 and the assessment years prior thereto the incomes accruing to the reserve fund and the family trust expenses account were aggregated in a single assessment made on the trustees of the nizams family trust.
five units were to companystitute a fund called the reserve fund and 3 1/2 units were to companystitute the family trust expenses account.
subsequently the income tax officer being of opinion that there was only one settlement under the trust deed reopened the assessments for the assessment years 1960 61 and 1961 62 under clause a of s. 147 of the income tax act 1961 in order to assess the trustees on the combined income of the reserve fund and the family trust expenses account.
for the subsequent assessment years 1967 68 to 1970 71 the high companyrt adopted the same view in regard to the first question.
the second question did number arise for those assessment years.
following the same line he made separate original assessments for the assessment years 1962 63 to 1965 66.
by its judgment dated january 16 1974 the high companyrt answered both the questions in the negative.
and hence these appeals.
from the judgment and order dated 16.1.1974 of the andhra pradesh high companyrt in case referred number2 of 1977 s. desai ms.
special leave petition number.
1856 61 of 1974 etc.
but thereafter the asses sees appeals having been allowed by the appellate assistant commissioner of income tax against the assessments for the years 1955 56 to 1959 60 the incomes of the two funds were separately assessed for the assessment years 1960 61 and 1961 62 the assessee being described in the one case as the trustees of the nizams family trust reserve fund and in the other as the trustees of the nizams family trust expenses account.
civil appellate jurisdiction civil appeal number.
the judgment of the companyrt was delivered by pathak j. these appeals have been preferred by the revenue against the companymon judgment of the high companyrt of andhra pradesh answering the following questions in favour of the assessee whether on the facts and in the circumstances of the case the incomes arising from the reserve fund and the expenses account of the nizams family trust deed dated s 10.5.1950 can be aggregated in a single assessment for each of the assessment years 1960 61 to 1965 66?
ratnakar and d.n.
by a deed of trust dated may 10 1950 the nizam of hyderabad created a family trust.
if the answer to the above question is in the affirmative whether the assessments made under section 148 of the act for the assessment years 1960 61 and 1961 62 were legal and valid?
misra for the respondent.
4171 to 4174 of 1978 have been filed against the judgment of the high court in those cases.
a. subhashini and b.b.
ahuja for the appellant.
