GENTLE, J.

1. THIS is a case stated by the Tribunal under s. 66 of the Indian IT Act at the instance of the assessee, who is the manager of the Cossimbazar Raj Estate appointed by the Court of Wards. The question which this Court is required to consider is :

"Whether in the facts and circumstances of the case the sum of Rs. 1 lakh received by the Cossimbazar Raj Wards Estate from the Bengal Coal Co., Ltd., was, in law, assessable to income- tax?".

2. THE estate of the Maharaja of Cossimbazar has been in the management of the Court of Wards since about the year 1920 or 1921. A portion of the estate comprises some colliery lands in Moujas Gangutia and Chhotadhamua on the 25th Sept., 1916, prior to the Court of Wards taking charge, the Maharaja granted, by a Bengali pattah, a mining lease of that property to the Bengal Nagpur Coal Co., Ltd., upon, inter alia, these terms :

(1) THE lease to be for period of 20 years from date; (2) THE lessees would have the right of raising coal from the lands for which they should pay the royalty specified in the lease; (3) THE lessees should be at liberty to abandon the lands at any time before the period of the lease expired, provided they pai