JUDGMENT

ORDER :—The short question which arises for determination in this appeal by certificate is whether the reassessment sought to be made by the Income-tax Officer on the assessee trust under Section 34 (1) (b) of the Indian Income-tax Act, 1922 was time barred.

2. The assessee trust was created by one Shri S. Raghubir Singh and for the assessment year 1954-55 for which the relevant account year was the financial year ending on 31st March, 1954, the assessee trust filed a return of income on 31st March, 1954. The Income-tax Officer took the view that the assessee trust was sham and bogus and was created merely as a device for evasion of tax and he, therefore, refused to recognise the assessee trust as valid and made an order stating that the income accruing to the assessee trust should be assessed in the books of S. Raghubir Singh. The income of the assessee trust was accordingly included in the individual assessment of S. Raghubir Singh and assessment was made on him on that basis. S. Raghubir Singh carried the matter higher in appeal and ultimately the Punjab High Court on a reference made by the Tribunal held that the assessee trust was a valid trust and that the income whic