Banerjee, J. - (1.) This reference, under Section 66(1) of the Indian Income-tax Act, 1922, has been made in the circumstances hereinafter related.
(2.) The assesse'e is a public charitable trust, originally constituted under a trust deed, dated December 19, 1944. The trust was renewed by a deed dated January 10, 1951.
(3.) The year of assessment, with which we are concerned in this reference, is 1960-61, the relevant previous year being the year ended March 31, 1960.;