S.C.Sen, J. - (1.) The Tribunal has referred the following question of law to this court under Section 256(1) of the Income-tax Act, 1961 : "Whether, on the facts and in the circumstances of the case and on a correct interpretation of the deed dated September 26, 1970, the Tribunal was right in law in holding that a valid trust came into existence by the said deed dated September 26, 1970, and the property bearing No. 37/1, Jatindra Mohan Avenue, Calcutta, belonged to the Ganapatrai Sagarmull Charitable Trust and in deleting Rs. 14,384 (assessment year 1973-74) and Rs. 14,870 (assessment year 1974-75) representing income of the said property from the assessments in the hands of the assessee for the assessment years 1973-74 and 1974-75."
(2.) This reference relates to the assessment years 1973-74 and 1974-75.
(3.) The dispute in this reference is whether the income derived from the property of Ganapatrai Sagarmull Charitable Trust should be assessed in the hands of the assessee or Ganapatrai Sagarmull Charitable Trust.;