Judgement

SIKRI, J. : - These four appeals by special leave are directed against the judgment of the Gujarat High Court in Income-tax Reference No. 19 of 1962, whereby the High Court answered the questions referred to it by the Income-tax Appellate Tribunal against the Commissioner of Income-tax, who is the appellant before us. The reference was in respect of assessment years 1955-56 and 1956-57 in the case of Shri Jayantilal Amratlal (Individual) and in respect of assessments years 1958-59 and 1959-60 in the case of Jayantilal Amratlal Charitable Trust, Ahmedabad. The questions referred are:

(1) Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the income of Jayantilal Amratlal Charitable Trust was not assessable in the hands of the settlor Jayantilal Amratlal under the first proviso to Section 16 (1) (c) of the Income-tax Act for the assessment years 1955-56 and 1956-57 ?

(2) Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the income of the Trust should be considered the assessment of the trustees and that they were entitled to the benefits of the refunds attached to the dividends from