Appeal from the judgment and order dated September 30, 1966 of the Calcutta High Court in.
The assessee was assessed in the status of an individual.
In other words he himself was one of the beneficiaries.
Income tax Reference No.
CIVIL APPELLATE JURISDICTION Civil Appeal No.1850 of 1967.
Jagdish Sarup, Solicitor General, R. N. Sachthey and B. D. Sharma, for the respondent.
N. Banerjee and P. K. Mukherjee, for the appellants.
leave from a judgment of the Calcutta High Court answering the following question of law referred to it against the assessee and in favour of the Revenue Whether on the facts and in the circumstances of the case, the entire or any part of the income from the house properties companycerned companyld be included in the total income of the assessee by virtue of the provisions of s. 16 1 c of the Income tax Act, 1922 read with the first proviso thereto ?
On March 19, 1953 the see, created a trust in respect of these two houses.
He derived income from house properties and from the business of a registered partnership firm H. Ganguly Co. He had six houses one of which was 24, Mohanlal Street, Calcutta and the other at Janganbari in the city of Banaras.
The Income tax Officer held that the income from the afore said two properties was assessable in the hands Of the assessee inasmuch as he had retained a portion of the income from the trust properties for himself.
102 of 1962.
The Judgement of the Court was delivered by Grover, J. This is an appeal by special.
200/ per month to the settlor for life for his own absolute use and benefit out of the income of the trust estate remaining after payment of taxes, rents etc.
It was provided in the trust deed that the trustees shall pay a sum of Rs.
