Judgment

PATHAK, CJI.:- These appeals by certificate granted by the Gujarat High Court are directed against the judgment of the High Court disposing of three Wealth-tax References.

2. The three trust deeds were executed by the Settlor Narottam Lalbhai for the benefit of the assessee, his wife and his children and grand children. The deed dated March, 19, 1955 created a trust known as the Arvind Narottam Trust. The deed dated April 9, 1955 created a trust called the Arvind Family Trust. And the deed dated March 18, 1961 created a trust described as the Arvind Kalyan Trust. All the three trust deeds are couched, in identical terms, except in regard to the minimum amounts payable to the beneficiaries out of the income of each year There was one further difference in detail. The first two deeds specified a period of 18 years from the date of execution as the period: during which the net income could be distributed to the assessee, his wife and children, while the third specified a period of 30 years. The minimum annual payments to be made under the three trust deeds to the assessee by way of maintenance were Rs. 250/-, Rs. 150 and Rs. 250/- respectively. Under each of the trust deeds the