B. P. JEEVAN REDDY, J.

( 1 ) THE following two questions are referred under section 256 (1) of the Income-tax Act :"1. Whether, on the facts and in the circumstances of the case, the assessee was the owner within the meaning of section 22 of the Income-tax Act, 1961, relating to the properties sold to outsiders in respect of which full sale consideration was received and possession was handed over but formal deeds of conveyance executed subsequent to the accounting year relevant to the assessment year under consideration ? 2. Whether, on the facts and in the circumstances of the case, the assessee was liable to be taxed as owner under section 22 of the Income-tax Act in respect of the properties handed over to various Sahebzadas by firmans without executing proper deeds of conveyance ?"

( 2 ) THE assessment years concerned here are 1975-76 and 1976-77. It is brought to our notice by learned standing counsel for the Revenue - and, in fact, this fact is also found stated in the order of the Tribunal - that identical questions were referred earlier for the opinion of this court for the assessment years 1959-60 to 1963-64 in the case of this very assessee with respect to the same proper

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