- (1.) THE Tribunal has referred the following three questions or law under s. 256(1) of the IT Act, 1961 for opinion of this Court : "1. Whether in law and circumstances of the case, the Tribunal was justified in setting aside the case to the file of the ITO directing him to examine as to how the properties in question were dealt with after the date of dedication ? 2. Whether in law and circumstances of the case, the Tribunal was justified in holding that a public charitable trust could be created orally and no writing was necessary for creating such trust ? 3. Whether in law and in these circumstances of the present case, the Tribunal was justified in totally ignoring the mandatory provisions of Transfer of Property Act and Indian Registration Act due to which no transfer and divesting of immovable property can legally take place, unless evidenced by a duly executed, stamped and registered deed, in writing and these conditions being absent in the present case, the Tribunal should have confirmed the order of the ITO -
(2.) THE reference relates to the years 1976 -77 and 1977 -78.
(3.) BRIEFLY stated, the facts giving rise to the present reference are as follows : The assessee created verbally a public charitable trust under the name and style of M/s Sadiram Ganga Prasad stood vested in the trust on the date, the said trust was created. The accounting year of the assessee relevant to the in question on the relevant date, on which the accounting period ended, and that the income of these properties should not be assessed in the hands of the assessee, HUF. Being not satisfied with the said order of the AO, the assessee preferred appeal before the CIT(A). The CIT(A) confirmed the decision of the AO for the asst. yr. 1976 -77. In 1977 -78, on this issue the AO was directed to assess the income from these properties for eight months and not for entire period of twelve months.;