R.K.GULATI,J. - (1.) The present reference made by the Income -tax Appellate Tribunal under Section 27(1) of the Wealth -tax Act, 1957 (hereinafter referred to as 'the Act'), arises out of the assessment of net wealth of the applicant, Haji Sheikh Karim Bux Trust (hereinafter referred to as 'the waqf'). The statement of the case relates to the assessment year 1973 -74. The corresponding valuation date is March 31, 1973. Two questions of law have been referred by the Tribunal for the opinion of this court. These questions are as under : '1. Whether, on the facts and in the circumstances of the case, a mutawalli can be treated as a trustee in a valid deed of waqf and can be assessed to tax under Section 21 of the Wealth -tax Act, 1957 ?
(2.) WHETHER , on the facts and in the circumstances of the case, the Tribunal is justified in holding that the shares of the mutawallis were indeterminate and, therefore, they were assessable in terms of Clause (iv) of Sub -section (1) of Section 21 of the Wealth -tax Act, 1957 ?' 2. One Sri Sheikh Karim Bux executed a waqf perpetual indellah (i.e., in the name of God) on September 8, 1886 of his properties, valued at Rs. 1,03,150 which included zamindari property and houses specified and bounded, as given in Schedule -1 attached to the waqf deed. Under the terms of the waqf deed, the waqf, Sri Karim Bux, was to be the first mutawalli. After his death, the management and administration of the waqf property is provided in columns 1 and 2 of the deed. It is admitted that on the corresponding valuation date, for the assessment year 1973 -74, there were six mutawallis. Sri Syed Mohd. Hashim Rizvi is the managing mutawalli and the waqf is named as Waqf Hazi Sheikh Karim Bux. From the income out of waqf properties, under the deed, the mutawallis are required to make expenses on objects set out in the second schedule to the deed. Headwise details are as under : Description of expenses Quantum of expenditure 1. Expenses relating to mosque andmusafirkhana, appertaining to the mosque situate in village Umarpur Niwan,Purgana Chail, together with expenses over the visitors to the mosque, otherneccesary expenses such as arrangements for water and farah, etc., repairs tothe mosque and musafirkhana, and if any of them falls, its reconstruction Anyamount necessary. 2. Pay and subsistencefor the teacher for the education of the children and others andany one desirous of education Reasonableamount. 3. Seven Dogas with cotton to bemade and distributed to the poor in winter Reasonableamount.
(3.) ANNUAL Maulood Sharif Reasonableamount.;