In payment to my wife Aisha Bibi during the term of her life one tenth of the said net income by monthly instalments.
In payment to each of my sons during the respective terms of their lives one sixth of the said net income by monthly instalments.
During the assessment years 1957 58 and 1958 59 the appellants were number only assessed to income tax in respect of the income received by them from the wakf estate but were also assessed to Wealth tax by the Wealth Tax Officer on the basis that they had a share in the wakf estate.
The moneys payable as aforesaid to such of my sons as are minors shall until they attain the age of majority be respectively invested after defraying the expenses of their maintenance and education in proper securities or in landed property in Calcutta and such securities or property shall be made over to the said sons on their respectively attaining the age of majority.
Appeals from the judgment and order dated December 4, 1964 of the Calcutta High Court in Tax Matters Nos.
There were further appeals to the Income tax Appellate Tribunal where numberdispute was raised as indeed it companyld number be raised with regard to the validity of the deed of wakf.
In the year 1957 the Wealth Tax Act 27 of 1957, hereinafter called the Act, came into force.
The ultimate benefit in the case of companyplete intestacy of the descendants of the settlor was reserved for poor musalmans of Sunni companymunity deserving help.
69, 62 and 64 of 1963.
The total value of the immovable property belonging to the wakf estate was valued at 20 times the annual municipal valuation and 16th of the value of the immoveable property along with other properties was taken to be the net wealth of each assessee.
Appeals were taken to the Appellate Assistant Commissioner of Wealth Tax but these were dismissed.
CIVIL APPELLATE JURISDICTION Civil Appeals Nos.
The appellants who are the beneficiaries under the deed of wakf were paying income tax on the amount which was being received by them in terms of that deed from the Mutwalli.
The settler appointed himself as the sole Mutwalli for the term of his life and provided that after his death his widow Aisha Bibi and his sons would act as Mutwallis jointly.
In payment to me during the term of my life of one fifth of the said net income by monthly instalments.
2129 to 2132 of 1968.
K. Sen, S.K. Hazare and P.K. Mukherjee, for the appellants in all the appeals .
The settler died on January 1, 1937.
By a deed dated November 19, 1928 as modified by a deed of rectification dated July 5, 1930 one Golam Hossain Kasim Ariff, a muslim governed by the Hanafi School of the Mohammadan Law created a wakf in respect of his properties in Noormul Lohia Lane and Armenian Street in Calcutta.
Sen, S. A. L. Narayana Rao and R.N. Sachthey, for the respondent in all the appeals .
The wakf created was of the nature of Wakf alal aulad for the benefit of the settlers wife, children and their descendants.
The Judgment of the Court was delivered by Groper, J. These appeals by certificate from a judgment of the Calcutta High Court involve a companymon but important question, namely, whether the right of an assessee to receive a specified share of the net income from an estate in respect of which Wekf alal aulad has been created is an asset assessable to Wealth Tax.
He left behind his widow Aisha Bibi and three tons who are the appellants before this Court.
The extent of the benefit companyferred on them would appear from clause 5 of the deed of wakf as modified After payment of all necessary out goings such as establishment charges, companylections charges, revenue taxes, companyts of repairs, law charges and other expenses for the upkeep and management of the said Wakf property, the Mutwalli or Mutwallis shall apply the net income of the said Wakf property as follows, viz.
