SAYED SADAT ABDUL MASUD Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THESE, references under Section 256(1) of the I.T. Act are in respect of assessment years 1959-60, 1960-61 and 1961-62. The questions of law referred by the Tribunal for the opinion of this court as also the facts on which such questions have arisen being common for all the three assessment years, this judgment will govern all the three references.

(2.) THE questions of law are:

(3.) QUESTION No. 1 referred for the opinion of this court is in relation to the income of the trust and question No. 2 is in relation to the remuneration of the trustee at 15% of the net income. For the assessment year 1959-60, the net income of the trust has been held to be Rs. 3,36,942 and the assessee's remuneration at 15% has been worked out to Rs. 50,541. For the assessment year 1960-61, the trust's net income has been worked out to Rs. 2,65,813 and the assessee's remuneration has been worked out to Rs. 39,871. For the assessment year 1961-62, the trust's net income has been worked out to Rs. 1,74,952 and the assessee's remuaeration has been worked out to Rs. 26,242.