In Civil Appeal No.
1,24,000/ .
Similar questions have been referred to the High Court in other appeals.
Aggrieved by that decision, the appellants have brought these appeals.
The trust deed provided that the trustees shall pay to the two beneficiaries every year Rs.
1,26,000/ from the trustees.
The payment is required to be made in India.
These facts are all admitted.
That companytention has been rejected by the Tribunal.
The trust created was followed up by a tripartite agreement between the Nizam, the Governor General of India and the trustees.
Each of the two grandsons were entitled to get every year a sum of Rs.
94,500/ incurred by the assessee in London is exempt under Section 5 o of the Expenditure Tax Act.
The facts relevant for the purpose of deciding the question of law arising for decision in all the appeals are identical.
Every year the trustees were realizing the amount due from the Government and remitting the amounts due to the beneficiaries to London and those amounts were expended by them in London.
2147 of 1969, at the instance of the assessee the Income tax Appellate Tribunal, Hyderabad Bench, referred the following question to the High Court of Andhra Pradesh Whether on the facts and in the circumstances of the case, the expenditure of Rs.
The two assessees who are the appellants in these appeals are the grand sons of the former Nizam of Hyderabad.
We shall number set out the material facts.
The companypus of the trust was deposited with the Government of India and the Government of India was to pay to the trustees certain sums of money every year in India under the tripartite agreement.
On January 8, 1950, the Nizam companystituted a trust under which his two grandsons and his daughter in law were given certain benefits.
After the execution of this trust the two grandsons of the Nizam as well as his daughter in law went and resided in London.
This finding was assailed on behalf of the assessees before the High Court but the High Court rejected the companytention of the assessees and affirmed the decision of the Tribunal.
S. Hegde, J. In these appeals by special leave, a companymon question of law arises for decision and that question relates to the meaning of the word realization in Section.
5 o ii of the Expenditure Tax Act, 1957 which will be hereinafter referred to as the Act.
