TRUSTEES OF PUTLIBAI R F MULLA TRUST Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) WE are concerned in this reference with the assessment of the trustees of the Putlibai R. F. Mulla Trust to wealth-tax for years 1957-58, 1958-59 and 1959-60. The relevant valuation dates are March 31, 1957, March 31, 1958, and March 31, 1959.

(2.) THE trust was declared on the 14th of September, 1931, by Putlibai R. F. Mulla for the benefit of herself, her children and their spouses and her grandchildren. The relevant clauses of that trust are clauses (c) to (g), both inclusive, and are, for convenience of reference, reproduced below :

(3.) ON that date the settlor, Putlibai's husband, Rustomji Fardunji Mulla, was alive. He passed away some time in 1936. The settlor had five children as follows : 1. Piroja, 2. Nadirshah, 3. Nariman, 4. Jal, and 5. Mrs. Hilla J. R. Vimadalal