Appeal by Special Leave from the Judgment and order, dated 15 3 1971 of the Allahabad High Court in Wealth Tax Reference No.
Under a deed of trust, dated October 26, 1937 executed by his father, Shri Pyarey Lal Banerji hereinafter referred to as the settlor the assessee became entitled to receive the income arising out of the trust fund during his assessees life time after the death of the settlor subject to the liability to pay out of such income certain specified sums periodically as mentioned in the deed to two other persons.
After the death of the assessee, the income of the trust fund was directed to be paid in equal shares to the two other persons referred to above and if either of them should die before the death of the asessee then the whole of such income had to be paid to the survivor of them during his or her life.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
All the five references relating to the five assessment years were heard together by the High Court in the year 1970.
N. Kacker, V. K. Pandita and E. C. Agarwala for the Respondent.
1163 1167 of 1973.
There were certain other directions in the trust deed with regard to the disposal of the income arising out of the trust fund with which we are number companycerned in this case.
VENKATARAMIAH, J. These appeals by special leave under Article 136 of the Constitution are directed against the judgment, dated March 15, 1971 of the Allahabad High Court in Wealth Tax Reference No.
T. Desai and Miss A. Subhashini for the Appellant.
232 of 1964.
The cases were there after heard by the High Court.
