SABYASACHI MUKHARJI, J.

( 1 ) BY this reference under Section 66 (1) of the Indian Income-tax Act, 1922, the following question has been referred to this court:" Whether, on the facts and in the circumstances of the case, the Tribunal was correct in holding that the assessee-firm was the owner of premises No. 5, Clive Row, Calcutta, and that the provisions of Section 9 (3) of the Indian Income-tax Act, 1922, had no application in this case ?"

( 2 ) THE assessment years concerned in this reference are 1958-59, 1959-60 and 1960-61 and the corresponding accounting years being the financial years 1957-58, 1958-59 and 1959-60. The assessee is a registered firm consisting of two partners, Sri Cbhaganlal Burman and Sri Baijnath Paras-rampuria, with equal shares. The firm was constituted under a deed of partnership dated 6th December, 1956, the partnership having been deemed to have come into existence on and from I9th September, 1958. It is provided in the partnership deed that the partners would carry on the business of buying, selling, developing lands, building and/or letting out lands, building and also deal in shares, securities, bullion, jute and jute products, textile and other co

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