( 1 ) THIS is a reference under Section 66 (1) of the Indian Income-tax Act, 1922. The reference relates to the assessment years 1955-56, 1956-57 and 1957-58. In this reference four questions of law which are set out hereinafter have been referred by the Tribunal for this court's consideration. For proper appreciation of the questions of law referred by the Tribunal it would be necessary to refer to certain facts which have been found and stated in the statement of the case submitted by the Tribunal.

( 2 ) ONE Liladhar Hirachand, a Hindu governed by Mitakshara school of law, died on March 31, 1943, leaving behind his widow, Smt. Kankubai, and a son, the applicant, Bhupatrai Hirachand, who at the time was near about 18 years of age. It appears that after the death of his father, Bhupatrai Hirachand was married and got a son in August, 1950, by name, Tarun Kumar, who is still living.

( 3 ) DURING his lifetime Liladhar carried on business under the style of "liladhar Hirachand" and also had acquired house property. The business was his individual business. The house property was also his self-acquired property. In respect of income from the said business and also the