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S. C. AGRAWAL, D. P. WADHWA
Commissioner Of Income Tax, Amritsar – Appellant
Versus
Rattan Trust, Amritsar – Respondent
JUDGMENT
D.P. Wadhwa, J.-Leave granted in Special Leave Petition.
2. These appeals arise out of the two judgments of the Punjab and Haryana High Court dated January 18, 1980 and November 25, 1988. The first judgment arose out of the Income Tax Reference under Section 256(1) of the Income Tax Act, 1961 (for sort the I.T. Act ) for the assessment years 1971-72, 1972-73 and 1973-74 and Wealth Tax Reference under Section 27(1) of the Wealth Tax Act, 1957 (for short the W.T. Act ) for the assessment years 1973-74 and 1974-75; and second judgment is in reference under Section 256(1) of the I.T. Act for assessment year 1975-76.
3. The questions which arise from the references under the I.T. Act are :
"1. "Whether, in view of clauses 41 of the Trust Deed. Clause 39 of the Trust Deed can be legally amended. If so, whether such amendment would give rise to a legally enforceable mandate, as contemplated by the first proviso to sub-section (1) of Section 13 of the Income Tax Act, 1961?
2. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the interest income of the assessee Trust is exempt from tax under
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