B.P. Jeevan Reddy, J. - (1.) Leave granted in Special Leave Petitions.
(2.) A common question arises in this batch of appeals. For the sake of convenience and with the consent of the counsel for the parties, we treat the facts in Civil Appeal No. 1180 of 1991 (Gosar Family Trust, Jamnagar) as representative of the facts in all the cases. It is agreed by the learned counsel for the appellants that the relevant recitals in the Trust Deeds concerned in all the appeals are identical. The appeals arise from the judgment and orders of the Gujarat High Court.
(3.) The High Court has answered the following two questions referred to it, at the instance of the Revenue, under Section 256(2) of the Income-tax Act in favour of the Revenue and against the assessee: "(1) Whether, in law and on facts and having regard to the provisions of sub-section (1) of Section 164 of the Income-tax Act, 1961, the assessee is entitled to the conecessional rate of tax (2) Whether, in law and on facts and in view of the provisions of the trust deed, the trust cannot be subjected to maximum marginal rate of tax - ;